Home Appraiser Scarborough

Home Appraiser Scarborough, wait, why, and who?

You have received your mortgage approval, and you have been notified that the lender requires an appraisal.

We understand that this might be the absolute most sensitive part of the mortgage process; hearing a value from a stranger.

The clash of the appraiser and the homeowner!

Please understand that the appraised value is nothing to take to heart; as frustrating as it might feel! Let us explain. Even though, and we don’t argue, that you feel your home might be worth X, and the appraiser says that it’s worth Y, only one thing truly matters. It’s that the appraised value supports the financing that you require! All else is entirely irrelevant at the end of the day. Whether you feel your home is superior to the comparable, or that you spent more money on better furnishings, it’s all completely irrelevant when you receive the mortgage proceeds.

The value today, might not be the value tomorrow.

On the other hand, a low value might prove to be detrimental. Is it though? It might be. We are very conservative with client interaction, we’ll never tell a client to waive their financing, for example. Similarly, when we’re working with clients who want to purchase real estate for investment purposes or for a fix-and-flip; we suggest ordering an appraisal, upfront. It makes absolute sense to spend a few hundred dollars out of pocket at the onset to receive an opinion of value. We aren’t referring to situations where clients purchase pre-construction and are under contract. We are referring to clients who are finding prospective homes. If you’re interested in a property and believe that you can increase value by spending a certain amount of funds, wonderful. However, what happens if your estimate is inaccurate? It’s best to have this verified from the get-go!

Appraisals are incredible tools, and of course, there’s a slight touch of subjectiveness, most appraisers invite feedback. You are most welcome to express your concerns if you feel that a comparable property was overseen, or perhaps inaccurate adjustments were made.

Appraisers aren’t in the business of sabotaging values, appraisers are in the business of determining the fair market value of real estate using standard approaches that take into consideration current and previous trade activity.

In the event that your property appraises for less than required for the purpose of your mortgage approval, let’s chat.

Please note that we work with, and so should you, a home appraiser in Scarborough that is licensed by theĀ  Appraisal Institute of Canada.

Furthermore, please do keep in mind that mortgage lenders rely on certain appraisers. In addition, most mortgage lenders prefer either themselves or your mortgage broker ordering the appraisal. Therefore, it’s best to consult with your mortgage broker or mortgage lender just to be sure.

A home appraisal in Scarborough does not have to be scary, we assure you!

Give us a call, text, or email when you’re ready.

DV Capital Corporation #13186