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Why would a person need a Home Appraisal?

Why would a person need a Home Appraisal?

Although there are many reasons for getting a Home Appraisal, the most common reasons are Real Estate and mortgage transactions. Some other reasons include:

  • To obtain a loan.
  • To establish the replacement cost of insurance.
  • To contest high property taxes or for Revenue Canada(GST).
  • To settle an estate.
  • To establish a purchase or selling price.
  • For matrimonial (prenuptial/divorce settlement) purposes.
  • For employee relocation purposes