Mortgage Financing
Renovations
Construction Projects
Estate Settlement
Asset Review
Litigation Support
Employee Relocation
Home Equity and Lines of Credit
Estate Planning
Divorce Settlement
Assessment Appeals
Pre-listing Appraisals
Mortgage Financing
One of the most common purpose for an appraisal request is when the client is applying for a mortgage loan. The lender or bank may require an appraisal to figure out the property’s worth in to approve the loan for the applicant. With our expertise, we can provide an accurate and unbiased value of the property that can be used in the lender’s decision for the approved loan amount for you.
Renovations
Have you ever wondered what the upgrades in your home are worth? Or maybe you’re thinking of having future renovations done and you’d like to know the value of your home before the improvements. Either way, it is important to note that not all renovations are counted towards increasing the value of your home, and not all renovations are weighted the same – certain add-ons, such as additional bathrooms, finished basements, and kitchens, will increase your home’s value by a wider margin than, for example, a new entertainment center or a wet bar. Our residential appraisers are here to help you figure out exactly what your property is worth after renovations.
Construction Projects
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Estate Settlement
Estate settlements can be a difficult time for all members of the family, and we understand that it is a process that requires sensitivity and promptness. If you are the executor or trustee, you will be responsible for settling the estate based on the deceased’s wishes. We understand the needs of all those involved to have an appraisal that is fair and accurate, which usually involves evaluating the property retroactively to a value accurate to the time of passing. You can have more time to focus on your task as the trustee, as our appraisers are experienced the policies needed to deliver an appraisal that follow all necessary requirements.
Asset Review
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Litigation Support
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Employee Relocation
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Home Equity and Lines of Credit
If you are applying for a loan, in most cases an appraisal will need to be done. Whether you wish to use the money to invest in other properties, pay off debts, or to finance your children’s education, an appraisal for the purpose of a home equity loan or a line of credit protects both the borrower and the lender. By getting an accurate value of your home, it protects you from borrowing too much and risk getting into financial trouble. Likewise, with the lender, the appraisal ensures that the loan can be repaid as well.
Estate Planning
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Divorce Settlement
In divorce settlements, it may come down to the decision that the shared home will be sold and the proceeds from the sale will be split evenly between the two parties. In most cases, the appraisal will be done to reflect the current market value of the property – however, if the separation date differs from the date of the requested appraisal, the report will have to reflect that valuation date. Our experienced team at Genesis Appraisals Ltd. can service you with the professionalism and sensitivity that is needed in this transaction, and quickly assist both parties in determining the value of their home to save time and money for legal fees.
Assessment Appeals
Property Tax Assessments may not take into consideration many factors of your property that makes it unique to the neighbourhood that it’s in. If the matter cannot be resolved by discussion with your local taxing authority and you are under the impression that your property is still being overvalued, we can help give an independent third-party evaluation of your home. An appraisal report that backs your side of the dispute can be extremely persuasive in supporting your appeal.
Pre-listing Appraisals
Pre-listing an appraisal can be useful in determining what your home might sell for in the present market. Although you can use an approximate means of determining the current market, only an appraiser will be able to judge the value of your home based on it’s individual features. This can be useful in setting a realistic selling price, or it may turn out that your home is worth more than you originally thought.