Fortier Mattila Appraisals completes agricultural appraisal work in Northwest and West Central Saskatchewan. Our firm has been completing agricultural appraisals in Saskatchewan since 1971. Our team of accredited professional appraisers are licensed by the Appraisal Institute of Canada (AIC) and have the qualifications and experience required by Canadian Financial Institutions, Banks, Credit Unions and Government Authorities. Our agricultural appraisers are 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
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Our agricultural appraisers are based out of the Battlefords and Kindersley, SK. We specialize in valuing agricultural land north of Leader and west of Saskatoon.
Black denotes our commercial and agricultural service area
Red denotes our residential services area
If you have questions about our service area please email email@example.com
David A. Fortier, AACI, P.App, Bcomm (Dist.)
David A. Fortier grew up on a grain, beef and bison operation outside of Edam, SK and attended Lakeland College in Vermillion, Alberta. He began working with Mattila Appraisals Ltd. in May 2008, working with Howard Mattila, AACI, P.App, P.Ag up to 2013 when he purchased the company from Howard and Jack Mattila. David has diplomas in Appraisal and Assessment and Advanced Business Administration (both with Honors) from Lakeland College, a Certificate in Real Property Assessment from the University of British Columbia, and a Bachelor of Commerce Degree (with Distinction) from Athabasca University. David has completed agricultural assignments across Saskatchewan for various financial institutions, government authorities, and has successfully testified in Court of King’s Bench (formerly Court of Queen’s Bench) regarding agricultural property values in Saskatchewan. He has been a guest speaker at the Saskatchewan Ministry of Agriculture Valuation Seminar and at Lakeland College. David Fortier-CV
Alex Scheidt, CRA, P.App, Bcomm
Alex Scheidt grew up in the Luseland-Kindersley, SK area where her family operated a grain farm. Alex draws on a background in agriculture and a strong understanding of business, economics and real estate through her University training. Alex has a diploma in Appraisal and Assessment from Lakeland College, Certificate in Real Property Assessment from the University of British Columbia, and a Bachelor of Commerce Degree from Athabasca University. Alex joined Mattila Appraisals Ltd. in 2012 and works alongside David Fortier in completing agricultural property appraisals across Saskatchewan. Alex Scheidt-CV
Appraisal Institute of Canada (AIC) – Founded in 1938, the Appraisal Institute of Canada (AIC) is Canada’s leading real property valuation association with over 5,600 members across the country and around the world. For the last 80 years, AIC has worked collaboratively with its 10 affiliated provincial associations to grant the distinguished Accredited Appraiser Canadian Institute (AACI™) and Canadian Residential Appraiser (CRA™) designations.
*AACI, P.App (Accredited Appraiser Canadian Institute, Professional Appraiser)
The AACI, P.App designation is the highest designation achievable through the Appraisal Institute of Canada. AACI members are qualified to offer valuation and consulting services and expertise for all types of real property including agricultural and commercial property. The AACI designation requires an undergraduate degree, 15 real estate courses through the University of British Columbia, completion of a guided commercial or agricultural case study, two years in the Applied Experience Program and completion of both a written examination and oral interview. Individuals must also complete AIC’s mandatory Professional Practice Seminar and the introductory We Value Canada workshop. For more information see: AACI, P.App – Steps to Designation
1-Preliminary Consult – Our valuation team will consult with the client to ensure a thorough understanding of the project, scope, timelines and property. As lenders each have specific appraisal requirements we try to present the most cost effective solution to meet those requirements. We offer all inclusive pricing which includes travel, inspection, mileage and report writing with the cost of the project is based on the total projected amount of work involved.
2-Site visit –The appraiser complete a site visit generally accompanied by the occupant, owner, or a site contact. The appraiser will be taking photos, measurements and notes regarding the location, land, improvements. A site visit may take between 45 and 120 minutes depending on the property type, size, number of outbuildings, etc. We do not complete soil testing.
3- Analysis – The appraiser will reconcile the information gathered from the site inspection, available land titles, assessment, soil maps, topographic maps, aerial maps, and MLS information into a summary of the subject property. The appraiser will analyze and review various macro and micro-economic forces as they pertain to the subject property type. A highest and best use of the property will be determined. The appraiser will then determine a value conclusion by using one or more of the following approaches:
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.
A final conclusion is determined and the report and addendum are compiled.
4-Report Submission – A digital copy of the appraisal and paid invoice are sent (both in pdf format).
Click here for a summary: Agricultural Appraisals – What we Provide
Our agricultural reports are commonly used for:
– Financing (1st mortgage, new builds, purchase, refinancing) by banks, credit unions, mortgage brokers
– Insurance claims (Actual cash value, replacement cost) by insurance companies
– Resale (Vendor pre-marketing, purchase negotiations) by sellers and buyers
– Estate (Preparation, Settlement) by owners, executors, family members
– Litigation (Divorce, Foreclosure, Arbitration, Expropriation) by lawyers and legal representatives.
– Tax Assistance (Capital gains including retrospective valuation) by owners and family owners
– Purchase negotiations (Crown Lease Land) by Saskatchewan Ministry of Agriculture and lessees
Our office has designated 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 and expert witness testimony for various local, regional and national law firms. David Fortier, AACI, P.App has been qualified as an expert witness by the Court of King’s Bench (Former Court of Queen’s Bench) and successfully testified in open court on multiple occasions.
We have been completing agricultural appraisals since 1971 for various types of clients including: grain farmers, ranchers, mixed farmers, investors, financial institutions, lawyers, government agencies to name a few. Why should you consider an agricultural appraisal?
Increased Market Values. With increasing values over the last decade very small differences in value add up very fast. A 1% difference in value on $500,000 worth of farmland is $5,000, 2% is $10,000, 5% is $25,000 – you get the picture. With bigger dollar values there is obviously more at stake.
The trouble with ‘Rules of Thumb’ You wouldn’t sell your house based on the average price of homes in your City would you? Would you sell your farmland based on a general sale to assessment ratio (assessment multiple), or average price per acre? Similarly, you shouldn’t rely on average market reports to price your farmland. The FCC farmland values report is meant to provide an overview of what is happening in general terms across the country. It is not meant to be used as a comprehensive appraisal guide to farmland valuation. Furthermore, as these values are based on certain ‘benchmark’ properties – your property may or may not be similar. Finally farmland tends to sell based on the prices paid in an immediate market area which may be a small geographic region of a few miles, or it may encompass the subject RM and some neighboring RMs – but not necessarily based on average prices for land paid between Unity and Green Lake west to the Alberta border.
Due Diligence. The most important part of decision making when it comes to real estate, financial planning, retirement planning, estate planning is due diligence. Having a professional appraisal completed by our P.App designated appraisers provides peace of mind that you did your due diligence and consulted with the experts beforehand. As we have appraisers who have been qualified as expert witnesses in Court of King’s Bench (formerly Court of Queen’s Bench), and regularly have our appraisals used in legal proceedings – we know the importance of having a thorough, fair, unbiased appraisal reports.
It’s important to know exactly what is reasonable and realistic in today’s market. Rely on an appraisal to ensure you are accepting a reasonable amount when selling, making a fair offer when purchasing, or assigning appropriate values when completing retirement or estate planning. Our appraisal team consist of licensed Appraisal Institute of Canada members, who only complete real estate appraisals – we do not sell farmland, nor are we actively purchasing farmland – as such we are only concerned with providing a fair, unbiased professional report so that our clients can make the best possible decisions. Call us at 1-306-937-5073 or order an appraisal online at www.fmappraisals.com/request to see how we can help.
At Fortier Mattila Appraisals Inc. we want to earn your business. Our valued clients continue to choose us for the following reasons:
1. Local Experts – Offices located in the Battlefords, Kindersley, Meadow Lake, Prince Albert, Saskatoon, results in reduced timelines, decreased mileage charges, all inclusive pricing, and most importantly local experts. We have local appraisers from Battleford, Kindersley/Luseland, Saskatoon, and Edam. Our appraisers grew up and reside in several rural communities across western Saskatchewan as such are familiar with the areas, amenities, local organizations, schooling and real estate markets.
2. Qualified Appraisers – All of our appraisers are licensed by the Appraisal Institute of Canada (AIC) which is the premier valuation organization in Canada. Appraisers are required to hold a four (4) year bachelors degree at a minimum prior to obtaining a residential or commercial designation. We have appraisers accredited with the AACI, P.App designation.
3. Experience – Our office has served western Saskatchewan as a full service real estate appraisal firm since 1971. We have appraisers who are experienced in the valuation of agricultural, commercial and residential real estate. Together our firm builds upon the knowledge and legacy built by Howard Mattila while taking advantage of new and exciting tools, analysis and methods introduced by David Fortier and associates.
4. Trust – Our office has appraisers approved by all national appraisal management companies, national financial institutions and local credit unions. We complete work for various municipal, provincial and federal government organizations. We also assist in litigation type work for foreclosures, estate settlement, matrimonial settlement and dispute resolution. David Fortier has successfully testified in Court of King’s Bench (Formerly Court of Queen Bench) on agricultural property values in Saskatchewan.
5. Backgrounds in Agriculture, Commercial Real Estate and Construction – Our team is comprised of a number of people who grew up on grain, cattle and bison farming type operations. Furthermore our team is comprised of individuals who own various commercial real estate and rental type properties. Our team also consists of members who have worked in the residential construction industry.
Case Study A – Oil company offered compensation to a farmer for lost acres resulting from oil well on their land. The oil company offered the farmer a set rate per acre based on the total value of the entire quarter section divided by the number of title acres. The appraiser determined that the acres being used for the surface lease were actually the highest quality on the quarter section as they were Class 2 cultivated. Furthermore, a ravine and adverse topography affected parts of quarter section. The appraiser considered BOTH the market value of the property as a whole with the entire 160 acres, and what the value per acre was for just the cultivated component. The appraiser concluded a value of $300,000+/- for the entire quarter section ($1875/title acre), but concluded the land taken for the surface lease was actually worth $3000/acre.
Case Study B – Landowner who had cultivated land had received an offer to purchase 2 quarters and wanted to confirm what the properties were worth prior to accepting an offer. The appraiser reviewed the offer, inspected the properties, analyzed comparable sales and listings and completed a narrative agricultural appraisal report which confirmed that the offer was well below market value. The landowner chose not to sell the property at that time. A few months later the landowner accepted an offer very similar to appraised value and much higher than the initial offer.
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*Note: for the appraisers to provide an accurate quote and timeline they require a thorough understanding of the specifics your project.