Every year, countless people in Canada buy, sell or refinance their own slice of the Canadian Dream! Most, if not all, of these transactions include a requirement of an appraisal. It has become an understood and accepted part of a real estate transaction. You may have heard others saying things like, “Let’s bring in the […]
Post Type Archives: FAQ
How do I prepare for an appraisal?
For homeowners, a real estate appraisal is the linchpin to buying or selling their home. It allows the property transactions to occur among the buyer, seller, real estate agent and mortgage lender. Before an Appraiser arrives, there are a few things you should do. Although the appraiser is not a house keeping inspector, tidy up […]
What is the sales comparison?
Instead, appraisers rely on the sales comparison approach to value these types of items. Appraisers get to know the neighborhoods in which they work. They understand the value of certain features to the residents of that area. They know the traffic patterns, the school zones, the busy throughways; and they use this information to determine […]
What is the cost approach?
The cost approach is the easiest to understand. The appraiser uses information on local building costs, labour rates and other factors to determine how much it would cost to construct a property similar to the one being appraised. This value often sets the upper limit on what a property would sell for. Why would you […]
How does the inspection work?
It all starts with the inspection. An appraiser’s duty is to inspect the property being appraised to ascertain the true status of that property. The appraiser must actually see features, such as the number of bedrooms, bathrooms, the location, and so on, to ensure that they really exist and are in the condition a reasonable […]
What is an appraisal?
For the average Canadian a home purchase is the largest single investment most people will ever make. Whether it’s a primary residence, a second vacation home or an investment, the purchase of real property is a complex financial transaction that requires multiple parties to bring it all together. The Realtor is the most common face of the […]
What is the cost of an appraisal?
That will depend on the purpose of the appraisal and the location of the property. How long will it take to complete the appraisal once an inspection takes place. Again, depending on the purpose of the appraisal, a typical re-financing assignment will be completed for the lender within 3 days. Referrals – our Clients have […]
