![]() ![]() ![]() The appraised fair market value for a home can influence different things such as real estate transactions, your ability to get a mortgage to buy a home, how much you pay for a home, and your ability to refinance your mortgage. A home’s appraised fair market value is usually different from a home’s sale price. ![]() An appraisal is based on a variety of factors including the size and age of a home, the condition a home is in, the condition a property is in, a home’s features and amenities, the home or property’s previous sales price, the comparable final sale prices for other comparable homes, and more. Related article: The Ultimate Guide to selling a Toronto home What is a home appraisal?Ī home or property appraisal is an independent, third-party, unbiased professional’s assessment of a home and property’s fair market value. Hopefully, after reading this article on home appraisals, you will have a clearer understanding of home appraisals work, why they are important, how much you should expect to pay a home appraiser in Ontario, what to expect when getting your home appraised, and more. You will also gain insight into why home appraisals are important, when you should hire an appraiser, how to find a professional to appraise your home, how much you should expect to pay to have your home appraised in Ontario, and things to consider when getting your home appraised. In this article, you will learn about what a home appraisal is for real estate purposes and insurance purposes, what a home appraiser is looking for and what factors determine a home and property’s value. The third most common instance when you might work with a home appraiser is for insurance purposes. The second instance when you might employ a home appraiser is if you are applying to get your mortgage refinanced. The first and most common instance when you will be working with a home appraiser is if you are selling or buying a home. There are three instances when it is common for people to work with home appraisers. You might have stumbled upon this article since you are looking to buy or sell your home, refinance your home, or might need the services of a professional home appraiser. ![]()
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