Frequently Asked Questions

 A real estate appraisal is a professional assessment used to estimate the market value of a property. Appraisers analyze market conditions, comparable sales, property features, location, and other relevant factors to develop an unbiased opinion of value. Appraisals are commonly required for refinancing, purchasing, estate planning, legal matters, and financial decisions. 

An appraisal helps ensure informed financial decisions when buying, selling, refinancing, or managing real estate assets. It provides an impartial estimate of value that can help protect buyers, lenders, investors, and property owners. 

The Agreement of Purchase and Sale helps confirm important transaction details that may impact property value. It also allows the appraiser to verify information related to the property, including inclusions, conditions, amendments, and other relevant terms associated with the transaction. 

The value of your property is determined by several factors, including its location, size, condition, and recent sales of comparable properties in the area.

AV Real Estate appraises all types of residential properties, including single-family homes, multi-family homes, condominiums, and townhomes.

A certified appraiser provides an independent and objective evaluation of a property’s value. This involves researching market data, inspecting the property, reviewing comparable sales, and preparing a detailed report that supports the final valuation conclusion. 

In many cases, a properly finished and heated addition can contribute positively to a property’s value. However, the impact depends on factors such as quality, functionality, permits, design, and market demand. Every property improvement is evaluated individually. 

The number of offers alone does not determine market value. Appraisers focus on the final sale price, property condition, location, market trends, upgrades, and comparable sales within the area when assessing value. 

Adjustments are based on market analysis and comparable sales within the surrounding area. Factors such as lot size, square footage, condition, renovations, location, and other property characteristics are considered when determining appropriate adjustments. 

In Canada, professional appraisers typically complete specialized education, industry training, and certification requirements through recognized organizations such as the Appraisal Institute of Canada. 

The appraisal report is generally owned by the client who ordered the report, which is often the lender or financial institution, even if another party paid for the appraisal service. 

An appraisal estimates a property’s market value, while a home inspection evaluates the physical condition of the property and its systems. Home inspections focus on identifying structural or mechanical issues, whereas appraisals focus primarily on value analysis.