That is a strong argument against letting an estate property sit. An estate can qualify as a graduated rate estate for its first 36 months, which affects how it is taxed, and beyond the tax question every month of holding costs money in property tax, insurance, utilities and heat kept on to protect the plumbing. Vacant home insurance is also more expensive and more restrictive than an ordinary policy, and an unnotified vacancy can void coverage entirely.
Adelaide/Churchill is a single east side neighbourhood built largely in the 1950s and 1960s, close to Eighth Street and to Brevoort Park, with wide lots and mature trees. Inherited homes here are usually original bungalows with detached garages off the lane, and buyers in this pocket are mostly young families rather than investors, which favours a clean, presentable listing over a quick as is sale.
The valuation itself needs to reflect the whole property. Long term owners in this neighbourhood commonly finished basements, replaced windows and rebuilt garages without permits, and none of that reaches an assessment file or an automated estimate. Joel Dyck records those improvements and prices the home against actual Adelaide/Churchill sales so the estate is not selling below what the house really is.
Get your hand-reviewed valuation from Joel Dyck.