Home Values
With the value of properties decreasing in the last year in Alberta, what is used to establish the value of your residence? Property tax assessments recently sent out by the municipality reflect values based on 2007 and 2008 house sales. Compariable home sales in our area value our home approximately $55K over what the property could be listed at, assessed $400K value, estimated at $345K realtor assessment. Would an appraisal from a certified appraiser be required?
Posted from: Alberta
When investigating the filing of either a bankruptcy or a consumer proposal it is very important to get as realistic of a value for the property as possible. While it is possible to use two real estate opinions, the problem is that often a real estate opinion can be a little on the high side and may not be as accurate of a reflection of reality as you would like. I find an appraisal from a certified appraiser is usually the better rout to go.