December, 2022

One of the most frequently asked questions we get asked is "what is an appraisal?"

An appraisal is an independent, formally presented opinion of a property's value. This value is estimated by skilled appraisers who are unbiased and impartial in their judgements.

Estimating the value of a property helps the intended user determine what a home is worth. While appraisals are often done in connection with banks for mortgage financing, appraisals are completed for a variety of reasons such as capital gains, litigation, division of assets, estate planning etc. (Click here to discover for more reasons to get an appraisal!)

WesTech’s professional valuation expertise provides our clients with a personalized service that aids them in making sound real estate decisions. All of our appraisal reports are prepared or reviewed by fully accredited members of the Appraisal Institute of Canada, the Real Estate Institute of British Columbia and the Canadian National Association of Real Estate Appraisers.

WesTech defines residential appraisal as an independent formally presented opinions of a property's value. This value is estimated by skilled appraisers who are unbiased and impartial in their judgements. 

What is an Appraiser looking for when they come to my home?

Have you ever asked this question as the appraiser walks through your home?
As one of the owners of WesTech Appraisal Services Ltd., I have been asked this numerous times in my many years of appraising homes in Vancouver and it is surprising what people think we are checking on.

In simple terms the focus of our questions are:
How big, old, updated, renovated, is your home and how well maintained is it? Is there anything good or bad about your property that will have a positive or negative effect on the value?

Our questions are posed to help us complete an accurate estimate of the value of your home.

So when a team member from Westech Appraisal asks questions, takes notes, and takes photographs, there is more going on than meets the eye. By doing so, we are gathering information about your home to ensure an accurate appraisal

10 simple questions Westech Appraisal will ask you at your home

1. Have you done any updates?
2. Do you know how old the roof is?
3. Have your renovations been completed with a permit?
4. Have you added an addition to your home?
5. Are you aware of any easements on the property?
6. Are you aware of any special assessments (if your home is a strata property) ?
7. What is the total living area and style of the home?
8. Are you aware of an oil tank on the property
9. Do you have a copy of a site survey certificate?
10. And finally, is there anything you need to know about the appraisal process?

WesTech has very experienced and professional appraisers ready to help you with your next Real Estate transaction. To browse through the services we provide visit our Services page.
For more information about our professionals visit our Team page and see if there is an appraiser or customer care team member who can help you.

For answers to some of your likely appraisal questions please visit our FAQ’s page or contact us.

~ Mark Doherty