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.
