Appraisals are done by licensed appraisers or an Agent may provide an Opinion of Value. Appraisers may testify in court related matters; Banks prefer Appraisers because they are not selling or involved in the transaction.
The Opinion of Value the legal description on the property as provided by Teranet, recent sales from the street (and surrounding neighbourhood) information as drawn from MPAC, general neighbourhood conditions and any other qualifying criteria.
Market value is defined as the highest price in terms of money, allowing a reasonable time period to find a purchaser who buys with the knowledge of the uses to which it is adapted and for which it is capable of being used.
A Home Evaluation (CMA) is used by an agent and home owner to ascertain the market value that one might expect compared with other similar properties that have recently sold. If you would like a market evaluation and are considering selling please give me a call.
If you need an OPINION OF VALUE please give a call 905 361 3387 to schedule the drive by; photo session and report delivery timing.
Etobicoke Real Estate Agent
Accredited Senior Agent for York Peel and Halton Regions