There are many benefits to appraising a property because no two properties are the same. If you are planning to purchase or invest in real estate in Vancouver, Surrey, Kelowna, Victoria or elsewhere in British Columbia, it is important to keep in mind that finding the right one is important. assessor to assist you in the process. Professional appraisal companies prepare reports and offer an opinion on the estimated value based on several details of the market and property in question. An appraisal report is highly dependent on the expertise and objectivity of the real estate appraiser, as well as the assumptions they make.
Benefits of a Home Appraisal
There are many benefits to having a professional assessment prepared. The reasons for preparing an evaluation report would be as follows:
– determine the value of the property to a potential buyer as they consider an offer to purchase
– determine the value of the property for mortgage financing needs by a mortgage lender
– to determine property value for home/building and property insurance
– to determine property value when trying to determine the asking price for your property
– to determine the value of your property if you appeal your property tax assessment to the municipality
– to determine property value when dealing with family inheritance matters such as death or divorce
– to determine the value of the property for potential expropriation purposes
– to determine the value of the property for the purposes of legal litigation
– to determine the value of real estate for capital gains taxation
Two appraiser designations to look out for when searching for a real estate appraiser are:
- AACI – Accredited Assessor Canadian Institute
- ARC – Canadian Residential Appraiser
Finding the right appraiser is extremely important, especially if you are considering investing in real estate. Need more information about home appraisals or finding a home equity loan? Contact Jim today for a friendly chat at 604.620.2697.