Residential Real Estate Appraisers Toronto

PV Realty Advisors is a leading among the Toronto Home Appraisal companies. The residential real estate appraisals are the baseline for the lender’s commitment of funds to the borrowers. We understand the importance of timelines and schedules for credit applications and mortgages. Our commitment is to provide the reports always on time and always meeting deadlines.

This has advantaged us to be the trustworthy partner with financial institutions, mortgage brokers, private lender, owners, lawyers and accountants offering House Appraisal services in Toronto & throughout the Greater Toronto Area (GTA).

Toronto Home Appraisal of single-family residential homes for:

The principles of competency as defined by the Appraisal Institute of Canada are the guidelines to adhere for every report. We ensure that stringent requirements are achieved in every home appraisal report. Our knowledge to the market and experience are the key components of an accurate valuation report for house appraisal in Toronto.

Residential Property Appraisal Toronto

PV Realty Advisors is a Toronto based Residential Real Estate Appraisal & Consulting Company providing valuation & consulting services for a wide range of commercial, residential and investment properties. We provide reliable home real estate appraisal services to our clients with professionalism. We provide superior quality real estate appraisal service while maintaining the Appraisal Institute of Canada’s standards. Our unbiased exceptional service and approach to Residential Real Estate Appraisals and Consulting Services make us the apparent choice compared to other appraisal firms in Toronto & GTA. Our staff is available during and after business hours and well-trained to handle the varying needs of our clients. The firm’s principal is a designated member of the AIC and a real estate broker for 15+ years, offering vast experience in commercial, industrial, and investment real estate. All Toronto home appraisals conducted by PV Realty Advisors are conducted with the highest degree of integrity, competence, and timeliness, ensuring professionalism at all times. Our real estate appraisers are also available on evenings and weekends and are committed to providing you with a superior quality of service for your Toronto home appraisal requirements.

Our Service Areas

Residential Real Estate Appraiser

  • Toronto
  • Burlington
  • Brampton
  • Grand Valley
  • Amaranth
  • Adjala-Tosorontio
  • Alliston
  • Shelburne
  • Schomberg
  • Ancaster
  • Caledon
  • Dufferin County
  • Dundas
  • East Garafraxa
  • Beeton / Loretto
  • East Luther / Grand Valley
  • Orangeville
  • Tottenham
  • Etobicoke
  • Halton Hills
  • Hamilton
  • King City
  • Kleinburg
  • Erin
  • Georgetown
  • Oakville
  • Woodbridge / Vaughan
  • Melancthon
  • Midtown Toronto
  • Mississauga
  • Mono
  • Milton
  • Mulmur
  • Nobleton
  • Norval

Leading Toronto Home Appraisal Company

Get Real Worth of Your Property

Home Appraisal Frequently Asked Questions?

An appraisal refers to the estimated value of a home that is determined by the inspection of a concerned property and a comparison of the homes that have been sold recently in the area to estimate its overall value. In Canada, the process of appraisal is taken care of by the residential real estate appraiser.

Before completing the process of buying your home, selling, or refinancing the same, it is important to get an appraisal that gives the estimated value of the home. All the findings as a result of appraisal helps to determine the total amount that any mortgage lender will let you borrow for the concerned property.

An appraisal is conducted by the residential real estate appraiser. This person is a licensed, third-party appraiser having no connection with the seller, lender, or the buyer of the property. This means that all the parties can be sure of an unbiased and fair appraisal of the concerned property. The process of appraisal is usually ordered by the lender. The costs of the appraisal are paid by the borrower.

 

On average, most appraisals cost around $300-$600. It is important to mention that the cost of the appraisal is influenced by many factors such as the size of the home, its type, location, the condition of the home, and many other factors. All these factors affect the time, effort, and work that go into the process of Toronto home appraisal.

 

Before ordering the appraisal, it is important to put an offer in the home. It is further signed in the form of a purchase agreement. After this, the process of an appraisal starts. Once the appraisal has been ordered, the appraisal shall come for the inspection of the home.

The inspection of certain parts of the home is done, depending upon the kind of loan you get. Such inspection is carried out to know more about the property, its features, and to make sure that the concerned property is in a good state and there are no issues in terms of safety and security. Once the inspection is completed, the appraiser then reviews the comps to come up with a fair market value of the property. For this purpose, a report is created by the appraiser that contains a detailed description and information of the property, its condition, basic features, unique features, and other important factors.

If the appraisal is made at or above the price of purchase of the home, the loan is processed as usual. If the price of the appraisal is lower than the agreed-upon purchase amount, more steps are required to be taken. This is because, in this situation, the lender cannot lend money more than the overall worth of the home.

Once the house appraisal Toronto is completed and the purchase price is set, the lender then finalizes the terms and conditions of your loan. You will get a closing disclosure containing all the details of your down payment, closing costs, etc. after which you will close on the loan.

The job of the appraiser is to assign a fair market value to the concerned property. The assessment is completed after looking at different things and features affecting the price or impacting the decision of the lender to loan you money for the home. These factors include the following:

  • Safety and health hazards
  • The structural integrity of the property
  • Condition of the property
  • Scope of upgrades and improvements
  • Visible defects
  • Other conditions set down by the seller.

Apart from this, exterior and interior factors are also taken into consideration. The exterior checklist includes the land area of the property, condition of the roof, chimney, driveway surface, pool, garage, quality of landscaping, etc. The Interior checklist includes the number of bedrooms and bathrooms, basement, crawl space, HVAC system, quality of the paint, plumbing, electricity, general condition and upkeep of the home, etc.

Apart from checking the interior and exterior condition of the home, the appraiser also looks into the repairs. You can prepare for the Toronto home appraisal in the following manner:

  • Check if the electric garage door opener is working well
  • Secure the railing
  • Make sure that all the utilities are functional having no safety issues
  • Make sure that the water, air conditioning, and electricity are functional
  • Make plumbing repairs, and repairs of leaks and stains
  • Check for the cracks in the ceiling, wall, or foundation
  • Check for the intrusion of water through the foundation
  • Make sure that the roof is sound and entertains 3 years of remaining economic life.

Once you have addressed the above-listed concerns, you will be able to carry out a smooth process of home-buying and the value of your home will become higher. Apart from this, you must also take care of the appearance of the home.

The average duration of any home appraisal is 120 days or 4 months. If you do not close on your home within the time so provided, you will have to host another appraisal. Some people can be excused the extension; however, this happens only under certain valid situations and circumstances. The shorter lifespan of a home appraisal is because of the alterations in market conditions. Home sales carried out 6 months ago might be entirely different from the ones done in recent months, especially when the market of real estate is volatile.