Why is a property appraisal necessary?

A property appraisal provides an objective assessment of your property's market value. This is essential for various situations, including securing a mortgage, settling estates, handling separations, or determining tax obligations. An accurate appraisal ensures fairness and informed decision-making for all parties involved.

How does an appraisal differ from a BC Assessment?

While BC Assessments offer a general valuation based on mass appraisal techniques as of July 1st each year, our appraisals are more precise. We conduct thorough interior and exterior inspections and analyze recent comparable sales in your neighborhood, providing a detailed and current market valuation.

What factors influence my property's value?

Several elements can impact your property's value, including its location, size, condition, age, and any upgrades or renovations. External factors like market trends and neighborhood developments also play a role.

Who receives the appraisal report?

The appraisal report is delivered exclusively to the client who commissioned the appraisal. Even if another party covers the cost, the report remains confidential and is shared only with the initiating party.

What should I expect during an appraisal inspection?

Our appraiser will conduct a comprehensive inspection, examining both the interior and exterior of your property. This includes taking measurements, photographs, and noting any significant features or improvements. The process typically takes between 30 to 60 minutes.

What distinguishes residential from commercial appraisals?

Residential appraisals focus on properties intended for personal use, like homes or condos, and often utilize the Direct Comparison Approach. Commercial appraisals, on the other hand, assess income-generating properties and may involve more complex analyses, including income capitalization and cost approaches.