A real estate appraiser in Canada may deal in residential or commercial properties. The main task of an appraiser is to ascertain the fair market value for properties. To purchase a home for a fair and competitive price, home buyers like to know what the property is worth. Based on individual aspects of the property, they like to know what makes it more or less valuable than an alternative property. Appraisals are based on what is considered the best and highest use of the property in question.
This basically implies the value of the house taking
into account the purpose for which it will be used - residing, commercial activity
or any other purpose. A real estate appraisal thus helps to establish market
value of a property–the likely sales price it would bring if offered
in an open and competitive real estate market. An appraiser also provides the
estimate of property's value when it is mortgaged, taxed, insured or developed.
To become a real estate appraiser in Ontario, you need to be licensed for
the province after completing coursework and internship hours that familiarize
you with the real estate markets. Once you clear the concerned exams satisfactorily
you will be presented with a real estate appraiser license.
Learning the trade is not a difficult task but it sometimes takes years of experience to develop the forte of correctly judging the value of different items involved in an appraisal.
Real estate appraisals in Ontario are very detailed reports and some of the things that they include are:
Details concerning the property being appraised, along with side-by-side comparisons of two - three similar properties
An evaluation of the overall real estate market in the area where the property exists
Statements about issues that the appraiser feels could be harmful to the property's value, such as poor access to the property
Notations about seriously flawed characteristics like a crumbling foundation
An estimate of the average time to sell the property
Determining the type of area that the property is in - a development, stand alone acreage etc.
Besides regular classes and correspondence courses, real estate appraiser courses in Ontario can also be taken through the Internet. However, you need to check the credentials and make sure that the school will provide you with a qualified course of training that can eventually help you to become a licensed real estate appraiser.
As an appraiser you will generally begin your career as a trainee and eventually advance to become a senior appraiser or supervisor.
A typical day in your life as a real estate appraiser in Ontario will include activities such as:
If you wish to know more about real estate appraisals in Ontario and need information on the best and authentic schools offering the concerned courses, visit:
The main educator in Ontario and the governing body that certifies you to become a Real Estate Agent in Ontario has a website, OREA, which offers information and courses about How to get started in Real Estate in Ontario! You may read more about how to become a real estate agent
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