Hi,

I wanted to find out if it is a normal practise to get a Property Appraisal done if you are buying a house or condo.

I know most people get a house/condo inspection.

thanks

I want to Digress on this topic to say something about home inspection.

This is the most important cost, which most of the Desi's do not want to spend.

They save around 300 bucks and spend thousands later.

I just saw an episode of Holmes on Homes on HGTV(Channel 46) where somebody bought a half a Million Dollar home(very fancy looking) and they even got it checked up by a home inspector. These homes were built by a reputed builder in GTA.

The home started leaking from top shower into the lower kitchen and they ended up spending a few tens of thousands dollars to fix the same.

We need to get references and also check upon the background, qualification and experience of the home inspector before giving him the assignment. Eventhough you spend around 300 bucks, with the right guy you can save thousands.

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Sunny Leone a true Canadian DESI now back in India !.

Quote:

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Originally posted by rakeshToronto

Hi,

I wanted to find out if it is a normal practise to get a Property Appraisal done if you are buying a house or condo.

I know most people get a house/condo inspection.

thanks

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Quote:

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Originally posted by rakeshToronto

Hi,

I wanted to find out if it is a normal practise to get a Property Appraisal done if you are buying a house or condo.

I know most people get a house/condo inspection.

thanks

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Quote:

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Originally posted by Fendbend

Quote:

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Originally posted by rakeshToronto

Hi,

I wanted to find out if it is a normal practise to get a Property Appraisal done if you are buying a house or condo.

I know most people get a house/condo inspection.

thanks

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Whether you do it or not the bank will do it before giving you the mortgage.

It is better you also do it so that you are not over -offering to the property and getting refused later by the bank.

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Quote:

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Originally posted by Trinity

Quote:

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Originally posted by Fendbend

Quote:

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Originally posted by rakeshToronto

Hi,

I wanted to find out if it is a normal practise to get a Property Appraisal done if you are buying a house or condo.

I know most people get a house/condo inspection.

thanks

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Whether you do it or not the bank will do it before giving you the mortgage.

It is better you also do it so that you are not over -offering to the property and getting refused later by the bank.

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In my case, my mortgage company asked me to do the appraisal (which I had to pay for) before they could approve my mortgage. I am not sure if that is the norm though.

Trinity

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