Quite contrary to what an inspection is, a home appraisal is a methodical report based on the condition of your home and its true value. An example of when you might need such a report when you send in a loan application as it may be a mandatory part of the application for you. Read on to know about some key facts about an appraisal.
- When you seek funds from a financial intermediary, the institution itself might employ an appraiser on their staff to assess your property. They may also ask you to seek a third party real estate appraisal in Vancouver.
- This report will also bring to light problems (if any) with your house, as these are things any lender may be concerned about. These will be things that take away from your home’s ultimate value.
- The professionals you hire should be skilled and knowledgeable experts who can be objective about the property when preparing their report. This is why you should hire a third party appraiser who has no vested interest in the house.
- Your appraiser must unbiased and has no financial gains to be achieved by making a higher valuation. Therefore, it would be best to avoid hiring anyone who is related to you and instead opt third party appraiser.
Securing a loan will be easier for you if you get an appraisal from licensed real estate appraisers in Vancouver who is experienced and trusted by your lender.