Why Get An Appraisal?

When do you need an Appraisal

Every year, countless people in Canada buy, sell or refinance their homes, and most, if not all of these transactions, include a simple line item for an Appraisal - it has become an understood and accepted part of a Real Estate transaction - "Let's bring in the expert and be sure of the Value of this property."

But is this the only reason to get an Appraisal? Are there other times when the services of an Appraiser might come in handy? Yes, there are:

Property Tax Challenges

Everyone seems to have a different perspective of what a house is worth and for some reason, it's often the tax assessor that seems to come in at the high end of the scale. Challenging the tax assessment has become an annual ritual in many parts of the country, but unfortunately most people go into these challenges unarmed - they may pull some information from the Internet to support their claims, but have no real basis other than "It wasn't worth that much last year!n Appraiser can help in these situations and while it may not be economical to commission a full Appraisal to reduce your tax bill by a few hundred dollars, often an Appraiser can do a limited Appraisal or neighborhood analysis for much less and these documents can carry a lot of weight when you appear before an appeals board.

Pre-Sale Decisions

Before selling a home, the first question often asked is "How much should we ask?", but there may be other equally important questions to ask such as "Would it be better to paint the entire house first?" or "Should I put in that third bathroom?" or "Should I redo my kitchen?". Many things which we do to our houses have an effect on their Value but unfortunately not all of them have an equal effect. Appraisers can help you make these decisions and help to establish a fair asking price to ensure you get the most Value for your home.

Pre-Buying Decisions

Before buying a home, the first question often asked is "Is this a fair price?" or "How much less should I offer?". An Appraiser can help you make these decisions and help to determine a fair offer price to ensure you get the most Value for your money.

Estate Planning or Divorce

The loss of a loved one, or a divorce, is a difficult time in life and can be a particularly traumatic experience. Sadly, these events are often complicated by difficult decisions regarding the disposition of the assets which often include a home. The first step is often to understand the true Value of the home and where property is involved, the Appraiser can help determine the true Value to help ensure a fair distribution of the assets.

Other Uses
There are other uses for Real Estate Appraisals and the highly-trained individuals behind these services are always looking for ways to put their expertise to work for homeowners and the people who support them. Contact us today to discuss your needs.



Appraisal Group (Thunder Bay) Inc. 521 John Street Thunder Bay, ON P7B 1Y3
Phone: 807-344-8886 Fax: 807-344-6699 E-mail: mail@appraisalgroup.ca Copyright 2007 Appraisal Group (Thunder Bay) Inc.


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