Kevin Slemko Midtown Appraisals on new homes

You’re buying a new home. What do you need to know?

If you're like many Canadians, you've grown up thinking that one day, you'd be buying your own home. It seems like a pretty normal thing to do - until you're actually doing it for the first time, yourself. When you find yourself actually signing paperwork committing you to hundreds of thousands of dollars over a couple of decades - well, it can suddenly seem like a very big deal. But the more you know, the less stressful it can be.…...
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Kevin Slemko AACI appraiser Hamilton

How do appraisals work?

Residential appraisals are more straightforward than you think You've sold your house, but your offer is conditional upon an appraisal by the bank. What does this mean? The buyers of your home have applied for a mortgage from a bank, with the house used as collateral. The bank gets an appraisal to ensure that there's enough value in the home to cover the mortgage in the event the buyers default. (Depending on the financial institution, the client and the economic…...
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