Company Profile

About InterVal

InterVal maintains a comprehensive library of appraisal literature, municipal data, and land use documents for numerous communities throughout Ontario, macroeconomic and microeconomic data on all categories of real estate throughout Canada, and has access to numerous databases including the Toronto Real Estate Board (TREB) and World Legal Information Institute (WorldLII), a public legal database providing access to decisions and judgments of courts in many countries, including Canada, United States and Europe.

InterVal monitors case law pertaining to:

 

  • Lease renewal and rent reset disputes
  • Real estate arbitration decisions/rulings
  • Professional appraiser negligence
  • Environmental contamination and stigma damages
  • Expropriation and Condemnation
  • Admissibility of appraisal evidence
  • Damage claims involving real estate
  • Improvident transactions
  • Mortgage fraud

Principal

Tony Sevelka, AACI, P.App., FRICS, SREA, MAI, the principal behind InterVal, has been involved in many areas of professional appraisal practice requiring a broad and diverse skill set applied to:

  • conducting primary research
  • coordinating and/or undertaking portfolio valuations
  • developing appraisal models in unique circumstances founded on sound valuation principles
  • valuing unique properties
  • acting on behalf of financial institutions dealing with special loans and mortgage workouts
  • confidentially investigating mortgage fraud on behalf of financial institutions and governmental oversight agencies
  • investigating professional appraiser negligence claims
  • preparing forensic appraisals and appraisal reviews in contemplation of litigation
  • providing expert testimony and litigation support as a consulting appraiser
  • acting as an arbitrator

 

InterVal is guided by Tony Sevelka, a thought leader in the appraisal profession, engaged in areas such as:

Expropriation:

  • Participation in numerous expropriations of full and partial takings, most of which were settled without the necessity of a costly expropriation hearing.
  • Major paper prepared on the concept of the Larger Parcel and its application to partial takings, a key consideration in valuing taken property and ascertaining injurious affection or severance damages, with numerous Canadian and U.S. cases cited.
  • Major papers prepared on the Subdivision Development Method, with a focus on expropriation and condemnation, covering all aspects of subdivision development and the valuation model, including its acceptance and rejection by the courts, with over 100 Canadian and U.S. cases reviewed.
  • Instrumental in development of a valuation model for estimating the cost of equivalent reinstatement for displaced tenants in a trailer park whose right to occupy their pad rentals was expropriated.

Negligence Claims:

  • Participated in numerous actions for claims of negligence against appraisers, with most claims successfully settled on the strength of our forensic reviews without the necessity of time-consuming and costly trials.
  • Major paper prepared on Appraisal Standards and Appraisal Negligence, with numerous Canadian cases cited, and discussion of emerging case law on negligence claims against “friendly” expert witnesses.

Improvident Transactions:

  • Prepared appraisal reports and forensic review appraisal reports.
  • Conducted research and provided litigation support to assist legal counsel in successfully defending against one of the largest financial claims for an improvident transaction ever filed against a major financial institution in Canada.

V-Day and Estate Tax Valuations:

  • Prepared a number of appraisals with supportable estimates of value on behalf of property owners for taxation purposes, all of which were accepted without any challenges from the Government of Canada.

Rental Disputes:

  • Participated in numerous rental disputes involving periodic rent review of ground leases and space leases.
  • Assisted a major crown corporation in the drafting of a long-term ground lease for its corporate head office.
  • Assisted legal counsel on a number of occasions in the interpretation of renewal clauses for the purpose of rent review.
  • Appeared as expert witness in arbitration and mediation hearings.
  • Appointed as arbitrator in rent reset and property value disputes.
  • Major papers published on the determination of rent during rent review and on ground lease valuation issues, citing numerous Canadian, U.S. and U.K. cases.

Appraisal Review:

  • Reviewed over 300 non-residential narrative appraisal reports on behalf of trust companies, life insurance companies, banks, major corporations and law firms for a variety of functions, including litigation.
  • Major paper published on appraisal review.

Confidential Forensic Investigations:

  • Participated in the investigation of mortgage loan files on behalf of numerous financial institutions, including banks, trust companies, and life insurance companies, and governmental oversight agencies.
  • Major paper published on forensic appraisal.

Asset Management:

  • Coordinated and commissioned appraisals of Canada Post’s Canada-wide real estate portfolio. The Canada Post contract, one of the largest ever awarded, was completed on time and under budget. Significant realty tax savings accrued to Canada Post as a result of identifying over-assessed properties in its portfolio.
  • All commissioned appraisals were personally reviewed as quality control measures.

Pro Bono:

  • Assisted financial institutions in the interpretation of the Uniform Standards of Professional Appraisal Practice (USPAP) (now known as CUSPAP) and provided assistance in the preparation of engagement letters in retaining appraisers.
  • Assisted a major financial institution in the development of a “form” appraisal for non-residential real estate mortgage loans.
  • Assisted Canadian Deposit Insurance Corporation (CDIC), both personally and as a member of the Appraisal Institute of Canada (AIC) ad hoc committee, in developing Standards of Sound Business and Financial Practices for Real Estate Appraisals.