Appraisals for Residential Real Estate

Alkins Real Estate Ltd., Brokerage

Alkins Real Estate Ltd. – Appraisals

Learn about Appraisals 

People dealing with real estate, sooner or later will find themselves seeking a residential appraisal. People like home buyers and sellers, lenders, investors, developers, or government agencies at one point may need a home or investment property appraisal.

All real property has some sort of economic value and this is important to the market, the buyer and the seller.

Home sellers use real estate appraisals to determine a listing price that will align with the current real estate market, while home buyers use real estate appraisals to decide on a proper offering price. Financial lenders use appraisals to help detemine the market value of a property being used as security for a mortgage or a loan. Appraisals can determine whether or not a buyer, a mortgage lender, a bank or a real estate investor enters into a deal or not.

Appraisals look at the real property and define it by everything attached to it. Why would home or investment property sellers and buyers need an appraisal? They need to get a third-party unbiased opinion of the value of the real estate.

Appraisals are completed with a specific effective date (current or retrospective) and are based on an analysis of collected data. A CRA is a Canadian Residential Appraiser who is a member of the Appraisal Institute of Canada and is qualified to appraise, under certain criteria, in Canada. If you are a seller or a buyer and you want to be sure about a property value, then you need an appraisal.

There are several other reasons why someone might need an appraisal. They might need it for transferring real estate ownership, re-financing a home, equity take-outs, credit purposes, probate, matrimonial and taxation purposes, etc.

The appraiser can be hated or loved. It all depends on what the value is said to be at and why you need it. Just remember, John Alkins is a Canadian Residential Appraiser (CRA). John Alkins probably knows the value of your real estate or investment property better than you do.

Your property value is based on many factors including comparable properties recently sold near the property being appraised. John Alkins is an experienced appraiser with a significant amount of property value knowledge and he knows Toronto and the Greater Toronto Area. He is up to date in his market knowledge because he is also a Real Estate Broker.