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27 Jun

Appraisals

General

Posted by: Adam Hawryluk

What are Appraisals? 

An appraisal is a written document that shows an opinion of how much a property is worth. The appraisal gives you useful information about the property. It describes what makes it valuable and may show how it compares to other properties in the neighborhood. 

Why do lenders require Appraisals? 

When you borrow money to buy or refinance a home, your lender may need to get a new appraisal to verify the stated value of the property. An appraisal helps assure you and your lender that the value of the property is based on facts, not just the seller’s opinion. 

How can I obtain an Appraisal?

If a lender requires an appraisal, we will order the appraisal on your behalf. 

The information and services offered on this Site are provided with the understanding that neither Dominion Lending Centres Inc., nor its suppliers or users are engaged in rendering legal or other professional services or advice. Although we strive for accuracy, timeliness and completeness, information quoted is not guaranteed and may change at any time and the information you obtain at this site is not, nor is it intended to be, legal advice.  If you require specific advice regarding your own situation please contact me for consultation.