When Do I Need an Appraisal?

It is best to get an appraisal as close as possible to the time it will be required by the bank or other intended user. Sales markets sometimes change significantly over a very short period of time. Most banks will not accept an appraisal that is more than ninety days old.

If you are considering buying, selling, or refinancing a property, you will want a professional appraisal. But there are other situations where an appraisal may be indicated:

• to remortgage and take advantage of favourable interest rates,
• if you want to do an equity take-out for renovations, vacation, or investments,
• for financial and estate planning,
• to finance renovations based on the potential increased value of your home,
• marital break-up,
• estate settlement,
• asset management.