What’s my home worth? How to find your home’s value
Should you use a value estimator tool or hire a home appraiser? Hiring a home appraiser is the best method of estimating the current value of a home (other than putting it on the market). Online value estimators can give you a great ballpark for what your home is worth, however, they may over or […]
How long does a home appraisal take?
A home appraisal in Alberta will take anywhere from a few hours to a day. The party that paid for or ordered the appraisal should receive a report within seven business days or less. The complexity of the appraisal, the appraiser’s schedule, and other variables dictate report delivery date. We recommend including an appraisal deadline […]
What do home Appraisers do?
A home appraiser’s work is to estimate a home’s current value while considering market conditions, the condition of the home, and comparable homes. The bank typically requests a home appraisal to ensure that what they spend on the home is recoverable -should the lendee default. If you are buying or selling a home, below is […]
Bank Appraisal VS Real Estate CMA: Do real estate agents appraise homes in Alberta?
Through a “Comparative Market Analysis,” a REALTOR® can estimate the value of a home. Unlike a home appraisal, you cannot use CMA reports to apply for a loan or in civil proceedings. A real estate evaluation is not the same as an appraisal. However, some REALTORS® will do a comparative market evaluation for free in […]
High appraisals explained: Can the seller back out if the appraised value is higher than the contract price?
Under provincial laws, you have no obligation to disclose the results of a home appraisal to the seller. Consequently, a high home appraisal is good news for the buyer because you will pay less than the market value for the home. The terms of the purchase contract and contingencies determine if either party can pull […]
Home Appraisal’s Explained: Everything you need to know about an Appraisal in Edmonton, Alberta
If you buy a home for cash in Edmonton, a home appraisal is not strictly necessary. However, for mortgages, your lender will need a home appraisal to avoid lending more than the home is worth, allowing them to recover the loan amount if you default on the loan. The buyer and appraiser define the type […]
What is the difference between an Appraisal, Evaluation, Assessment, and Market Value?
Appraisal: Only a licensed appraiser can produce an appraisal report. Lenders like banks who loan money based on the value of property will only use the opinion of an appraiser to determine value. Appraisers are rarely REALTORS® and will not be soliciting for a listing or commission. Appraisers are paid a flat fee for their […]
How do you ensure your home sells for top dollar?
Every homeowner’s goal is to maximize their home’s value when it comes time to sell. So how do you ensure your home sells for the highest price possible? The answer may be simple: appealing to retail buyers. What is a retail buyer? A retail buyer is a prospective home buyer who typically shops at, or […]