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What is a Home Appraisal?
A Home Appraisal is a type of an inspection that results in an estimate of the value of the home you may want to buy or already own.
Reports are prepared by a designated Canadian Residential Appraiser (CRA) a member of the Appraisal Institute of Canada (AIC).
You will receive a fair market value form report of 15-16 pages with a breakdown of comparable properties and how the value was determined within 48 hours.
Note the changes in writing up an appraisal on your property.
We continue to do appraisals as per Appraisal Institute of Canada guidelines, without internal inspections, relying on commentary and photos provided by the owners .
We will drive by the property to survey the location and the immediate neighbourhood and rely on any external information provided by MPAC.
https://www.aicanada.ca/covid-19-information-for-the-public/
How much does a Home Appraisal cost?
The basic cost of a single family home on a city lot usually starts $400 plus HST.
The cost of an Appraisal varies depending on location, type and size of property, and any other extenuating factors.