Boutique Residential Home Appraisals
D.R. Coell and Associates provides professional real estate appraisals and consulting services for all types of residential properties. Our boutique residential division specializes in providing residential real estate appraisals and consulting services across Vancouver Island and the Gulf Islands. Residential appraisals estimate the current market value of single family properties as at a specific date. These appraisals are typically completed on an industry standard form report, and include descriptions of the property based on an in-depth inspection, an analysis of current market conditions and comparable properties, as well as maps, bylaw information and photographs of the property. As with any appraisal, the scope of the analysis will vary depending on the property type and purpose of the appraisal.
Vancouver Island’s Leading Residential Appraisal Company
We have been providing residential real estate appraisals since 1974. Our decades of collective experience and strong connections within the industry provide our clients with the highest quality appraisals of their residential properties. D.R. Coell’s residential property appraisers are experts in all types of homes, and can provide invaluable insight pertaining to buying, selling, renting, building or renovating your home. By providing objective, professional opinions of value, all stakeholders can trust that a home appraisal completed by D.R. Coell is of the highest quality and accuracy.
Home Appraisal Services Offered
There are many instances that a residential appraisal may be required, or where consultation with an appraiser can provide valuable insight. Our residential team is comprised of professional, experienced experts in home appraisals for all purpose and intended uses.
Home appraisals typically begin with an interior and exterior inspection of your property, and/or review of building or strata plans as applicable. Interior and exterior photographs will be taken of the property, and included in the report. During the inspection, appraisers note the locational influences on your residential property such as views or proximity to amenities. Our professional appraisers consider all factors when determining a market value of your residential property.
Dependent on circumstances surrounding the need for an appraisal, the market value estimate may need to be retrospective, current or prospective to meet client requirements. Our Appraisers have decades of collective experience and as one of Victoria’s longest running Appraisal firms we have access to a wealth of historic data, as well as incredible industry connections and resources to determine market value at the required date.
Purchasing or Selling
Whether you are considering purchasing or selling a residential property, it is critical to enlist an Accredited Appraiser to determine the fair market value.
Appraisers are independent, objective parties to determine a fair price to list a home that you intend to sell. Before you consider selling, obtaining an Appraiser’s opinion of potential market value can provide insight into the residential market in your area. This insight can influence your decision whether it is the right time to sell, or whether it is best to hold the property. An objective opinion of value when you are ready to list will provide you the most accurate and fair price for your home, and will facilitate a timely transaction at market value. Without advice and a home appraisal from an Appraiser, sellers are at risk of under-listing and losing money, or over-listing and not selling.
When you have found a home that you would like to purchase, an appraisal report from our experts can provide you with confidence that you are not overpaying. Further, a residential appraisal from an accredited appraiser is required to obtain financing if you are seeking a mortgage to purchase. We have been providing residential appraisals for mortgage financing in Victoria for decades and we understand banks, credit union and independent lenders requirements. With a reputation backed by quality work, an appraisal from D.R. Coell can provide access to funding in a timely fashion.
Division of Assets
When marital breakdown occurs, often a family home is the couple’s largest jointly owned asset. D.R. Coell’s professional residential appraisers facilitate fair, equitable division of assets by providing an accurate and objective opinion of the value of your home. We understand that a timely, accurate appraisal of your residential property is critical during this difficult time, with an emphasis on confidentiality and sensitivity.
Estate appraisals are typically conducted on a retrospective basis, as at the date of death. For final probate, an estimate of the current market value is required for estate taxes. An estate appraisal is a critical legal document to settle a will or complete probate. Our residential team provides accurate reports with the highest standard of professionalism and sensitivity to our clients needs during this difficult time, as well as efficient turnaround times to facilitate the legal process.
Prior to commencing a home renovation or remodel project, consultation with an Appraiser is critical. Our Appraisers can provide consulting and prospective valuations to determine the added value of a renovation or remodel to your current home. It is important to consider that the cost of a renovation project does not necessarily add equivalent value to your property. In some cases, an elaborate or specific renovation may diminish the value of your property.
Should you choose to proceed with a renovation project, an appraisal and regular progress reports provided to your lender will provide timely access to construction draws and funding for your project.
Providing Home Appraisals to Victoria, Gulf Islands, Vancouver and Surrounding Area
D.R. Coell is based in beautiful Victoria, BC. We provide home appraisals across the entire CRD with no additional travel charges. Thanks to incredible investment in technology, our Appraisers are able to access our entire office remotely, including all resources and historic databanks. This permits us to provide residential appraisal services across all of Vancouver Island and the Gulf Islands, with the high level of quality that we are known for. No matter where your residential property is located, we’ll come to you.
Proudly Offering Residential Appraisals in:
- Capital Regional District: Victoria, Saanich, Oak Bay, Esquimalt, View Royal, Langford, Colwood, Central Saanich, Highlands, North Saanich, Sidney, Metchosin, Sooke, Salt Spring Island, Juan de Fuca, Southern Gulf Islands, Port Renfrew, Jordan River
- Cowichan Valley Regional District: Duncan, Ladysmith, Lake Cowichan, North Cowichan
- Nanaimo Regional District: Nanaimo, Parksville, Qualicum Beach, Lantzville
- Comox Valley Regional District: Comox, Courtenay, Cumberland
- Mount Waddington Regional District: Alert Bay, Port Alice, Port Hardy, Port McNeil
- Strathcona Regional District: Campbell River, Gold River, Sayward, Tahis, Zeballos
- Alberni-Clayoquot Regional District: Port Alberni, Bamfield, Sproat Lake, Great Central Lake, Tofino, Ucluelet
- Greater Vancouver
- Prince Rupert
- Prince George
Frequently asked questions
- What is an Appraisal?
As defined by the Appraisal Institute of Canada:
An appraisal is an estimate of value. It can be provided orally but it is usually a written statement of market value, or value for loan purposes, or value as described by the appraiser of an adequately described property on a specific date and supported by the presentation and analysis of relevant data.
- Why would I require a House Appraisal?
Buying or selling real property can be one of the largest financial decisions you will make in your life. Commercial appraisals offer an unbiased, informed opinion of the market value of the property you are interested in purchasing or selling. Appraisal services may be needed:
- To ensure that the purchaser does not pay more for a property than it is worth.
- To obtain a qualified opinion of value for mortgage or lending purposes.
- To provide investors with adequate information upon which to base investment decisions.
- To determine the correct selling price when selling a home.
- What Hurts a Home Appraisal?
A residential home appraisal conducted by D.R. Coell and Associates is an objective opinion of the market value of your property. A higher or lower value is neither inherently good or bad. There are many different circumstances that an appraisal would be required, and various situations that a higher or lower valuable is more desirable to the end user. Residential properties are valued by comparable property sales, adjusted based on influential factors. Factors that may increase or decrease a property’s value include views, location (busy street, corner lot, etc.), and/or proximity to amenities, schools, parks or the ocean.
- How Much Does a House Appraisal Cost in BC?
Our professional fee is based on the scope of the appraisal as well as the nuances each specific property. In order to meet your requirements, our team will prepare a personalized, no-obligation quote.
- Who owns the Appraisal? Who is the appraisal client?
The appraiser performs a commercial appraisal for his/her Client and the Client is any party for whom the appraiser performs a service. This is usually the person who engages the appraiser to complete the assignment and this may or may not be the person who actually pays for the appraisal. Often the Lender /Broker will order the appraisal from the appraiser but the fee is paid by the homeowner and in this case the Lender/Broker is the Client. Appraisers work on a confidential basis with their clients (known as client-appraiser relationship), in the same fashion as other professionals such as lawyers and accountants.