Chartered appraiser
To set a fair and justified asking price, it is recommended that sellers base their decision mainly on an analysis of the comparables, i.e. the price similar homes in the same area have sold for. And then, to make sure the price is competitive on the current market. This is standard practice for chartered appraisers.
Since setting the right asking price will maximize your chances of selling, DuProprio offers several tools as well as advice from a team of appraisers* to help you determine your property’s value. However, some situations would benefit from the services of a chartered appraiser. Consider it an investment in ensuring a winning strategy.
The Appraiser+ service is not included in your package.
Appraiser+ is Included in our most comprehensive package1, for residential properties. Since you do not have access to this tool, a report prepared by a chartered appraiser will provide the most helpful information for setting the right asking price.
1- Gold package (formerly known as the Exclusive).
You are selling a multiplex
It is recommended that sellers of multiplexes call on a chartered appraiser because they will take several factors into consideration, including revenues and expenses, to determine the property’s market value.
You are selling a vacant lot
It is recommended that sellers of vacant lots hire a chartered appraiser because they will consider several factors, like the location, configuration, availability of municipal services (water and sewer), the surface area and possible uses.
Your property has one or more unique characteristics
- Built 50 or more years ago. The quality of the renovations will have a major impact on the price.
- Waterfront. The property’s value will be greatly influenced by several factors, notably the frontage, the possibility of docking a boat, the view, access to the water and the type of body of water (lake, river, etc.).
- Luxury home. It is important to consider special features, like home automation, a wine cellar, luxury materials, living space, etc.
Non-standard properties require a more in-depth analysis, which a chartered appraiser is qualified to do.
The advantages of using an appraiser
1. A detailed appraisal report
Once appraisers are done analyzing the property’s characteristics, the market trends and the comparable properties that have sold in the area, they give the owners a detailed appraisal report. This document is an invaluable tool when selling a home because it sets a fair and market-appropriate price and provides proof to support it.
2. Appraisers are impartial
Chartered appraisers have no interest in the sale of the property. Their fees are the same regardless of whether the home is worth $250,000 or $1.5 million. Appraisers are there to give you the straight facts: the amount a buyer will be willing to pay for your property under the current market conditions.
3. Appraisers are qualified professionals
To practice, chartered appraisers must have a university degree and membership in the Ordre des évaluateurs agréés du Québec. The profession is also subject to stringent standards and an ethics code. Therefore, an opinion issued by one of these pros about a property’s value is trustworthy.
Tip from a real estate coach
Solid preparation prior to setting your asking price will help you not only attract the right buyers, but also justify your price during negotiations.
FAQ
How much does an appraisal report cost?
Prices can vary from one firm to another. We recommend contacting a few appraisers in your area before picking one. Generally, an appraisal report will cost between $400 and $600. Prices may vary from one firm to another.
* Depending on the package selected.