Gerritsen Brooks Appraisals Ltd

Commercial & Residential Real Estate Appraisal

Knowledge Integrity Trust

Serving the Comox Valley Area & Beyond

Residential

A residential appraisal aims to determine the market value of a property at a specific date. The valuation involves several key elements, including a comprehensive property description based on interior and exterior inspections, an analysis of market conditions and comparable sales, and the inclusion of maps, bylaw information and property photographs.

Residential property types considered in these appraisals encompass single-family homes, duplexes, triplexes, and four-plexes as well as strata-titled apartment or townhouse units and vacant residential building lots.

The completion of a residential appraisal serves various purposes, such as mortgage financing, purchase/sale transactions, division of assets, estate settlement, accounting, and litigation proceedings.

Commercial

A commercial real estate appraisal is a professional evaluation of a commercial property's value on a specific date. It involves analyzing factors like location, size, condition, amenities, zoning, market trends, income, expenses, and comparable sales.

The valuation section of the report uses the following methods of the ‘Cost Approach, Income Approach, and Direct Comparison Approach’ that are selected based on the individual property type and assignment.

Commercial properties include retail, office, industrial, multi-family, development land, and special purpose properties. Commercial appraisals serve purposes, such as financing, transactions, consulting, accounting, feasibility studies, lease analysis, and legal matters.

Insurance

A real estate insurance appraisal is an accurate estimate of a property’s replacement cost, for the purpose of determining its insurable value. Insurance appraisals are typically requested by property owners, strata corporations or insurance companies to establish the appropriate coverage amount for insurance policies.

The primary goal of a real estate insurance appraisal is to determine the cost of rebuilding or replacing the property to current building codes and standards, in the event of a loss or damage covered by an insurance policy.

This value is often different from the property's market value, which reflects the price it would sell for on the open market. An accurate replacement cost estimate will ensure the property is adequately covered and not over or under insured.

The Gerritsen Brooks Team

Sheila Gerritsen B.Mgt P.App AACI

Sheila began her career in Real Estate Appraisal in 2003 after completing a Bachelor of Management degree from the University of Lethbridge. In 2007, she received her AACI designation with the Appraisal Institute of Canada.

Sheila has many years of experience completing valuations for commercial and residential properties in the Comox Valley area. She has also spent several years as a professional appraiser in Yellowknife specializing in unique, remote property valuations across the Northwest Territories and Nunavut.

"Having grown up in a family of real estate professionals, real estate has always been an integral part of my life. I am so excited to serve the Comox Valley in providing real property appraisals and consulting along side my business partner Lee who shares my passion for this industry."

Lee M. Brooks B.Comm AIC Candidate

Lee started her journey to become a certified commercial real estate appraiser in May 2021 and has been working in the appraisal industry as an AIC Candidate since the start of January 2022.

She completed her Bachelor of Commerce degree in 2015 and previously worked in nonprofit leadership roles before embarking on her dream career. She currently works with Sheila Gerritsen as both her mentor and business partner.

"My passion has always been everything 'Real Estate' so I am absolutely thrilled and feel so fortunate to live and work in the Comox Valley along side Sheila as one of the best appraisers in the region."

Appraisal Order Form

Appraisal Ordered by - Name

Phone Number

Appraisal Type Required

Address of Property to be Appraised - Street Address/City/Postal Code

Company Name (If Applicable)

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The Comox Valley

Located in the Beautiful Comox Valley on Vancouver Island

Sheila Gerritsen 250-465-8148 Lee Brooks 250-650-3335

info@gerritsenbrooksappraisals.ca