What is an AVM Comparable Report?
An AVM Comparable report provides a real-time estimate of market value for the subject property and property attribute information for up to three comparable properties that have recently sold (based on sales of properties within a 13 month period).
Is an AVM report available for all properties in Ontario?
An AVM report is not generated for residential properties of four units or more, for vacant land, for commercial/industrial properties or for multi-residential and farm properties.
How often is the AVM updated?
MPAC's AVM is updated monthly using current market information and represent an up-to-date estimate of market value for a subject property.
What is a Confidence Rating?
A statistical measure that reflects how typical a property is in relation to the local housing market and neighbouring properties. A property can be rated as Low, Medium or High.
What is a Confidence Limit?
Statistical prediction limits are calculated on the estimated value representing the range of probable selling prices.
Can the AVM and Current Value Assessment differ in value for the same property?
Yes. The AVM value may not equal the current value assessment. The date for the current value assessment is legislated, whereas the valuation date for the AVM changes every month based on current market activity.
What is Multi-Property Search (MPS)?
MPS is an enhanced search function within propertyline™ that allows you to specify a range of location addresses and/or property attributes in your search criteria to produce a listing of properties that match your search criteria.
What types of reports are available in MPS?
MPS consists of a Basic report and/or an ICI Commercial/Industrial report. Both reports are provided on an unlimited basis as part of the monthly subscription fee. Additional reports are available through propertyline™ with applicable fees.
What is the cost of subscribing to MPS?
The price for access to a maximum of 10,000 Basic report is $300.00 per month. The price for access to a maximum of 10,000 ICI Commercial/Industrial report is $500.00 per month. Taxes are not included. Members will be required to sign up for a one-year membership, payable in twelve equal monthly installments.