Frequently Asked Questions

Below are many of our frequently asked questions. If your question is not answered below, please contact us for an answer.

Appraisal Information
  1. What is a Real Estate Appraisal?
  2. Why do I need an appraisal?
  3. What can I expect in my appraisal report?
  4. What is the difference between a Home Appraisal and a Home Inspection?
  5. What is the difference between a realtor’s valuation and a valuation from a home appraiser?
About Benchmark
  1. How can I contact Benchmark Real Estate Appraisals?
  2. What are your hours of operation?
  3. How much does Benchmark Real Estate Appraisals charge for an Appraisal?
Payments
  1. What types of payment do you accept?
  2. When is payment required?
  3. Appraisal
    Information

    What is a Real Estate Appraisal?

    A Real Estate Appraisal is a comprehensive report detailing the value of a Real Estate Property. Appraisal Reports examine many factors that influence the value of a property, to come up with an opinion of property worth.

    Why do I need an appraisal?

    More often than not, you will be instructed by a banker or lender to receive an appraisal as a prerequisite for monetary lending or a mortgage. Appraisals are often required before bank loans for renovation purposes. If you are still unsure if you require an appraisal, the Our Services section of our website features a comprehensive list of appraisal purposes.

    What can I expect in my appraisal report?

    In an Appraisal Report from Benchmark Real Estate Appraisals, you can expect to find:

    • Current photos of the property, showcasing the current condition of the interior and exterior of the home.
    • Specific details about the home: Actual measurements, number of rooms, quality of renovation upgrades, etc.
    • Comparable properties from your area, and the values they were actually sold at.
    • A numeric dollar value of the property in current market conditions.

    What is the difference between a Home Appraisal and a Home Inspection?

    A Home Appraisal from Benchmark Real Estate Appraisals provides you with a comprehensive report which analyzes your property and provides you with an accurate estimation of value in current market conditions. In general, a typical appraisal looks at the size and location of the home, the number of rooms as well as the types of upgrades in the home, and encompasses several other factors to come up with a numeric value. A Home Inspection gives you information regarding the structural integrity of the home, the condition of plumbing and electrical within the home, and factors of that nature. A Home Inspection DOES NOT provide you with an estimation of current market value.

    What is the difference between a Realtor’s valuation and the valuation from a Home Appraiser?

    A Home Appraisal will give you an accurate estimation of the current market value of a home. A Realtor’s valuation will give you an estimate that will sell your house quickly. Often times a fair market price and a realtors valuation differ substantially; and a home priced at market value tends to sell quickly anyways.

    About
    Benchmark

    How can I contact Benchmark Real Estate Appraisals?

    You can contact Benchmark Real Estate Appraisals By Phone Monday-Friday during regular office hours, 9:00AM-4:00PM. To contact Benchmark Real Estate Appraisals outside of regular office hours, please email us.

    What are your hours of operation?

    Benchmark Real Estate Appraisals is open Monday-Friday 9:00AM-4:00PM. Closed Holiday Mondays and Statutory Holidays. Rush assignments may be completed over weekends and holidays at an additional cost.

    How much does Benchmark Real Estate Appraisals charge for an Appraisal?

    The cost for a property valuation varies substantially. Factors that impact the cost of an appraisal include the purpose of the appraisal, the property type (including location, size, and type) and the timeline given to complete the report. For a quotation of services, please Contact Us

    Payments

    What types of payment do you accept?

    Benchmark Real Estate Appraisals accepts Credit Card Payments of Visa and MasterCard, Cash or Cheque. Please make cheques payable to "Benchmark Real Estate Appraisals LTD."

    When is payment required?

    Payment for appraisals is required within 30 days of completion of an appraisal. Appraisals from accounts not paid in full will be required to pay the remaining balance in full before any further appraisals are forwarded. Please note that new clients, or requests marked "collect from property owner" may be asked to prepay for services before an appraisal is completed.