Retrospective Appraisal: What It Is, When You Need It, and Why It Matters

When it comes to real estate and financial planning, timing is everything. But what if you need to determine the value of a property in the past—not today? That’s where a retrospective appraisal becomes essential.

What is a Retrospective Appraisal?

A retrospective appraisal is a professional valuation of a property based on a past effective date. Unlike a standard appraisal that estimates the current market value, a retrospective appraisal reflects what the property was worth at a specific point in history—such as the date of death, divorce filing, or transfer of ownership.

When is a Retrospective Appraisal Required?

Retrospective appraisals are commonly requested in:

• Estate settlements and probate: The Canada Revenue Agency (CRA) often requires the fair market value of real estate on the date of death to calculate estate taxes or capital gains.

• Divorce proceedings: Courts may require the property value as of the separation date.

• Tax purposes: When calculating capital gains, the value at acquisition or a historical valuation may be necessary.

• Backdated refinancing or legal disputes: Certain lenders or legal cases need proof of past property values.

  
  

How is a Retrospective Appraisal Conducted?

A certified appraiser uses historical data—such as MLS listings, public records, and comparable sales at the time in question—to prepare a detailed report. The appraisal must follow the Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP) and be defensible in legal or tax-related scenarios.

Why Work with a Certified Appraiser?

Only a designated member of the Appraisal Institute of Canada (AIC) can ensure that your appraisal meets CRA and legal requirements. Certified appraisers provide:

• Accurate, well-researched reports

• Compliance with legal standards

• Support in case of audits or disputes

• Peace of mind for families and professionals alike

  
  

Final Thoughts

Whether you're an executor, accountant, lawyer, or homeowner, a retrospective property appraisal can provide clarity during complex financial and legal processes. It’s more than just a number—it’s a critical piece of the puzzle that ensures fairness, transparency, and compliance.

Need a Retrospective Appraisal in Ontario?Contact Walson Consulting Inc. for certified and timely appraisal services.