The Estate of .....
Line Road, WHS
Caledon, Ontario
RE: LETTER OF OPINION
PURPOSE:
This Letter of Opinion is an estimate of the market value of the subject property as set out below as of May 24, 1996
DEFINITION OF MARKET VALUE:
Market Value is the highest price, estimated in terms of money, which a property will bring if offered for sale on a competitive and open market, allowing a reasonable time to find a purchaser who buys with the knowledge of all the uses to which it is adapted and for which it is capable of being used; buyer and seller each acting prudently and not affected by undue pressure.
Market value is an estimate of the price for which the property will sell under four average sale circumstances which include:
· An informed buyer and seller;
· Rational or prudent behavior by both buyer and seller;
· No undue pressure on either party;
· Reasonable time is allowed to find a buyer.
MARKET VALUE is the worth of a parcel of real estate viewed in the light of the prices at which other comparable parcels of real estate have been sold recently.
MARKET PRICE is the price at which any parcel of real estate sells. Market price does not require all four of the average sale circumstances which market value does.
Value emerges from many sales; price emerges from every sale.
SUBJECT PROPERTY:
The subject property is located at Line Road, WHS, Caledon, Ontario. The parcel of land is approximately X acres, situated about X miles north of Hwy #401 at Mississauga Road. The dwelling is a very large four bedroom, brick, detached bungalow, about 20 years old, tastefully decorated and upgraded during the past three years. It contains an almost complete, self-contained in-law suite. It has a private illuminated driveway, an inground pool and an eight stall barn with hay storage, tack room, office, heat, water and hydro.
OPINION OF MARKET VALUE:
The opinion of market value is based on a personal inspection of the subject property on May 24, 1996 and a property information research regarding properties which have sold over the past three years in the same area. It is my opinion that if the property were exposed on the market for a reasonable length of time the said property would sell in the range of X HUNDRED to Y HUNDRED dollars.
| Address | Lot size | Bdrms | Wshrms | Sale Price |
| 13473 Mississauga Rd., Ching, Cal. | 20 acres | 4 | 4, 4, 2 | $414,000 /94 |
| C6 L33, WHS, (Ching)Caledon | 30 acres | 3+ | 5, 4, 4, 2, 2 | $465,000 /94 |
| 16148 Shaws Creek, Caledon | 17.5 acs | 5 | 5,4,4,4,2 | $485,000 /95 |
| 15429 Shaws Creek, Caledon | 3+acres | 5 | 5,4,4,2 | $305,000 /96 |
| 17999 W.C. Blvd, Caledon | 27 acres | 4 | 5,4,2 | $325,000 /96 |
| 15558 Shaws Creek Rd, Caledon 2 | 24 acres | 4+2 | 5,5,4,3 | $330,000 /96 |
| 14494 Heart Lake Rd., Caledon | 37 acres | 4 | 5,4,4,2 | $390,000 /96 |
| L1 Mississauga Rd., Caledon | 49.5 acs | 3 | 4,4,3,2 | $520,000 /96 |
| Address | Lot Size | Bdrms | Washrooms | Asking Price |
| 18850 Shaws Creek, Caledon | 97 acres | 3+1 | 4 pc | $319,000/96 |
| 16005 W.C. Blvd., Caledon | 47.5 acs | 4 | 4,4,3 | $369,000/96 |
| 16541 Mississauga Rd., Caledon | 10 acres | 4 | 4,3,2 | $455,000/96 |
| 16012 Shaws Creek Rd., Caledon | 55 acres | 4 | 4, 3, 3, 2 | $475,000/96 |
| 2055 Boston Mills Rd., Caledon | 10.6 acs | 5 | 5,4,4,2 | $478,888/96 |
| 16795 Mississauga Rd., Caledon | 10 acres | 3+2 | 5,4,3,2,2 | $599,000/96 |
| Address | Lot Size | Bdrms | Washrooms | Asking Price |
| 18850 Shaws Creek, Caledon | 97 acres | 3+1 | 4 pc. | $347,777 /95 |
| 15558 Shaws Creek, Caledon | 24 acres | 4+2 | 5,5,4,3 | $399,000 /95 |
| 16541 Mississauga Rd., Caledon | 10 acres | 4 | 4 | $490,000 /95 |
| 17854 Shaws Creek Rd., Caledon | 54 acres | 4 | 4 pc. | $495,000 /95 |
| 16012 Shaws Creek Rd., Caledon | 55 acres | 4 | 4, 3, 3, 2 | $495,000 /96 |
| 536 Olde Base Line Rd., Caledon | 27 acres | 4+2 | 6,3,3,2 | $497,000 /95 |
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