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Why Get An Appraisal?

PURCHASE OF A HOME

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One of the most important issues involved in purchasing a property is developing an opinion of what it’s worth so that you can make an informed offer to purchase. A professional appraisal report performed by a qualified, and experienced appraiser can provide you with an objective, third party opinion of a property’s current Market Value. And for the small price of this service, you can give yourself “peace of mind” prior to making an offer to purchase that you’re offering a fair price for the property.

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REFINANCE OR GET A HOME EQUITY LOAN

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If you need to consolidate bills, have a college tuition to pay, or just want to tap into the equity of your home, you’ll need a new loan, which oftentimes requires a new appraisal of the property.

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DIVORCE SETTLEMENT

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A divorce can be a particularly traumatic experience for both parties and is often further complicated by the difficult decision of “Who gets the house?”. In most divorce cases, the Court won’t usually force the parties involved to “buyout” the other party’s interest but it may however order the sale of the home so each party gets an equal share of the equity. Regardless of the situation, it’s a good idea to order an appraisal so both parties are fully aware of what the true market value is. If the parties want to sell the home, they’ll have a better idea of what price to set. And on the flipside, if a “buyout” is the chosen option, both parties will feel like they’ve gotten a fair assessment.

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TAX PURPOSES

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All too often, people do not fully appreciate the need to have a detailed real estate appraisal prepared in support of the numbers being used in documents filed with revenue authorities. Opinions of value used in documents filed with the revenue authorities should be supported by a detailed report as to how the appraiser arrived at his conclusions. Such a report will certainly demonstrate to the authorities that the numbers used are well founded and substantiated.

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RELOCATION​

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We understand the stress involved with an employee relocation. We take great care in establishing a convenient appointment time for the appraisal inspection. During our thorough inspection, we encourage relocating employees to provide input on the positive attributes of their property along with information about any recent sales or listings in their neighborhood that they want considered.

HOME IMPROVEMENTS TO ADD VALUE​

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Before you decide to sell your home, there are several decisions to be made. First and foremost: “How much should it sell for?” But don’t forget there may be other equally important questions to ask yourself such as “Would it be better to paint the entire house before we sell it?”, “Should I put in that third bathroom?”, “Should I complete my kitchen remodel?” Many things which we do to our houses have an effect on their value. Unfortunately, not all of them have an equal effect. While a kitchen remodel may improve the appeal of a home, it may not add nearly enough to the value to justify the expense.​​

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SELLING A HOME​

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Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a better educated decision when determining your selling price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. It’s easy for them to step in and give you the information to help you make your decision. Appraiser fees are based on efforts to complete the report and not a percentage of the sales price. So seeking a professional appraisal can often help homeowners make the best decisions on investing in their homes and setting a fair sales price.

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Just Compensation in Expropriation Proceedings

  • To estimate market value of property as a whole that is, before the taking

  • To estimate value after the taking

  • To allocate market values between the part taken and damage to the remainder

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Realty Decision-Making

  • To estimate market value of property as a whole that is, before the taking

  • To estimate value after the taking

  • To allocate market values between the part taken and damage to the remainder

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A Basis for Taxation

  • To separate assets into depreciable items such as buildings, and non-depreciable items, such as land, and to estimate applicable depreciation rates

  • To determine gift or inheritance taxes

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A Basis for Rental Schedules and Lease Provisions

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Feasibility in Relation to a Renovation Program

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A Basis for Corporations or Third-Party Companies to

Purchase Homes of Transferred Employees

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MEMBERS OF
Appraisal Institute of Canada
International Right-Of-Way
Realtors Association of
Hamilton-Burlington
Ontario Expropriation Association
The Stoney Creek Chamber of Commerce
Ontario Land Economist

 

SPECIALIZATION
Real Estate Litigation
Assessment Appeals
Arbitrations
Expropriation
Industrial & Investment Properties
Right-Of-Way Acquisitions
Land Development Evaluations
Portfolio Assessment Evaluations
Peer Reviews
Mortgage Financing

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