Fortier Mattila Appraisals Inc. has been completing agricultural appraisals in Saskatchewan since 1971. Our agricultural valuation team is proficient and experienced in the valuation of:
- Arable Land (Cultivated)
- Grain Storage (Granaries)
- Muskeg and waste type land
- Pasture Land (hay/grazing)
- Yardsites including residences
A) Direct Comparison Approach – In this approach, recent sales of similar properties are analyzed. For vacant land; location, agricultural productivity, soil quality, proximity to urban centres or lakes, are of particular importance when selecting comparable sales. In farmland appraisals a sale price per acre and assessment multiple technique are considered for land valuation. For improved properties; location, age/condition, building size, design are of particular importance when selecting comparable sales. These sales are then compared to the subject property and adjusted for differences. The adjustment reflects the likely market reaction to the difference between the subject and each of the sales. After adjusting each of the indicators a final estimate of value is determined.
B) Cost Approach – The estimated cost to construct the building(s) is/are then determined through analysis of current construction costs. The contributory value of the extra features is then estimated though a comparison of cost and market indications. An appropriate depreciation rate is developed and applied to arrive at a final estimate. The depreciated value is then added to the value of the raw land that was estimated using the Direct Comparison Approach.
C) Income Approach – In this approach, the actual and market rental revenue streams of a property are analyzed. Vacancy, bad debt and typical expenses are subtracted to estimate net operating income. Comparable sales are identified to which the relationship between sale price and income is analyzed. A market derived capitalization rate or income multiplier is applied to the subject to estimate market value. In farmland appraisals the value influence of oil and gas related surface leases are considered by analyzing the impact of leases on recent sales.
Our agricultural reports are commonly used for:
- First Mortgage Placement (Purchase Financing)
- Equity Financing (Refinancing)
- Construction Financing (Proposed Valuation and Progress Inspections)
- Re-sale purposes (Vendor pre-marketing reports)
- Capital Gains and Financial Planning (Including Retrospective Valuation)
- Litigation (Arbitration, Foreclosure, Divorce, Estate)
- Expropriation (Compensation)
- Insurance Claims (Actual Cash Value and Replacement Cost)
- Saskatchewan Ministry of Agriculture (Price Negotiations)
Our office has agricultural appraisers approved by national financial institutions and regional and local credit unions. Our accredited and approved appraisers complete work for various municipal, provincial and federal government organizations including Saskatchewan Department of Highways, Saskatchewan Ministry of Agriculture, Public Works and Government Services Canada. We also complete litigation assignments for various local, regional and national law firms.
Our professional team of 11 includes; (3) AACI, P.App designated appraisers; (4) CRA, P.App (Canadian Residential Appraiser, Professional Appraiser) designated appraisers, dedicated office manager, research manager and 2 office administrators. Our appraisal valuation team is comprised of appraisers and staff who grew up on cattle, bison, and grain farms and staff who own and manage farmland. All agricultural assignments are completed by licensed AACI, P.App members of the Appraisal Institute of Canada. In summary holders of the AACI, P.App designation have a 4 year bachelors degree, 15 real estate courses through UBC, guided case study, minimum 2 years experience, written and oral examination.
Pricing, Timelines and Report Inclusions
Offices located in the Battlefords, Kindersley, Meadow Lake, Prince Albert, Saskatoon, and Warman, results in reduced timelines, decreased mileage charges, competitive pricing, and most importantly local experts. We are proud to offer all inclusive pricing on all of our projects which includes travel, mileage, inspection, report writing and submission. Our office uses a combination of expertise, technology, and collaboration to ensure projects are completed on time and on budget. As our office has a staff of 11 including 7 appraisers and 4 full time office staff our timelines are significantly reduced. For more information on what is included in our agricultural appraisals: Agricultural Appraisals – What we provide
Service Area, Requesting services
The map below shows Fortier Mattila Appraisals Inc. offices across the province. To order an agricultural appraisal click Request Quote to complete our online appraisal request form, or you can contact our office at 1-844-937-5073.