An appraisal is an unbiased, formally presented opinion of a property’s value. To determine the current market value, a certified appraiser assesses various aspects of the home, such as its size, condition, features, and location. They also consider comparable sales data of similar properties in the area to arrive at an accurate valuation. WesTech’s professional valuation expertise provides our clients with a sound basis for making real estate decisions such as buying / selling a home or refinancing a mortgage.

An appraisal is important if you will be making a significant financial decision based on your home’s value. A few examples:

– Determining a property’s buying / selling price.

– Estate planning / valuations.

– Ensuring that a property is fairly divided in a divorce or estate settlement.

– Refinancing your current mortgage to buy an investment property.

– Contesting unfairly high property taxes.

– It is ordered by a government department such as Canada Revenue Agency.

– For accounting purposes if you plan to turn your primary house into a rental property.

According to the Appraisal Institute of Canada, the average fee for a residential appraisal in BC ranges from $395 to $595. However, these are only general estimates and the actual cost may vary depending on the specific circumstances of each case. Our prices are competitive and depend on the complexity of the appraisal report. If you have any questions, please contact us. We’d be happy to talk to you about your needs and to provide a quote for an appraisal.

Email: mail@westechappraisal.com

Phone: 604-986-2722

A WesTech appraiser will arrive at your home, introduce themselves, and present a business card. The appraiser will gather information that will allow for meaningful comparisons in the valuation of your home. The appraiser will typically confirm the living area of your home, establish the floor plan, assess its condition and quality of finish, determine the home’s “effective age”, and document the report with photos. You will be asked questions about updates, additions, renovations (if any), special assessments, oil tanks, awareness of easements, etc. You can help streamline the process by making sure that all areas of the home are accessible – especially if you have tenants.

It is very helpful and will aid in the completion of the report if the appraiser is provided with or can view any of the following:

– Survey and building plans of the house and/or property.

– Certificate of Title.

– Recent tax assessment.

– A copy of the original or renovation plans/budget.

Appraisals are generally billed to the financial institution/broker directly, but if not, payment will be collected at this point or will be charged to the mortgage broker/lender involved in the transaction. We always welcome questions or feedback regarding the property, neighbourhood etc. Similarly, we would be happy to discuss the “process” of an appraisal.

If you ordered the appraisal directly through WesTech, the report will be completed and delivered to you via email within 2-5 business days. Please note the timeline will depend on the complexity of the report. If requested, we will also mail a hard copy of the appraisal to you.