We often receive questions from our clients about various topics related to residential property appraisals. Below are some frequently asked questions, along with their answers.
Q: Why should I have my property appraised?
A: There are two primary reasons why. First of all, if you are selling, it will help you determine your property’s current market value. Second, if you’re purchasing a new home, an appraisal will give you a good idea of how much you money you should ask your mortgage lender for.
Q: What kinds of information do you include in your reports?
A: We aim to provide our clients with a detailed valuation report. Some of the types of information you will find in your report includes the type of property, its age, price and population growth in your market, structural data, and comparable market sales, just to name a few.
Q: My real estate broker recently provided me with a valuation for my home. How does this differ from your appraisals?
A: Although we encourage all prospective buyers and sellers to work with qualified real estate professionals, the valuations they provide are more geared towards determining an asking price. The appraisals we provide give you a better sense of what your property is worth compared to recent sales in your market.
Q: My property is located outside of the Courtenay area. Are you still able to offer me an appraisal for it?
A: Absolutely! Our services are not just limited to Courtenay; in fact, we try to cover as much of the Comox Valley area as possible. Other areas we serve include Denman Island, Hornby, Mount Washington, Bowser and Deep Bay. We are also able to refer you to qualified professionals in neighbouring communities.