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Appraisals and Market Value

Real Estate Appraisal

A real estate appraisal is a service performed by a professional appraiser, who develops an opinion of value based upon the highest and best use of real property. The highest and best use is that use which produces the highest possible value for the property. This use must be profitable and probable. Also of importance is the definition of the type of value being developed and this must be included in the appraisal, i.e. fair market value, condemnation value, quick sale, etc.

Assessment

The assessment in B.C. is done by B.C. Assessment, a provincial crown corporation.

1. The estimating of value of property for tax purposes.
2. A levy against property in addition to general taxes, usually for improvements such as streets, sewers, etc.
3. B.C. Assessment assesses all properties in B.C. for tax purposes, and sends an assessment notice to all property owners each year informing them of the market value of their property as of the previous July 1st.

Find out what the home down the street sold for!

If you would like to know what a certain property sold for,click here and we will email the results to you as soon as possible.

 
Marketability of Your Home
The Marketability Test is an evaluation of improvements on properties types. This evaluation is on any extras over and above a specified set of points allotted to that particular property type.

Your Homes Value
Knowing the value of your home or property is essential if you are thinking about selling.



 

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