Home appraisals help determine a property's fair market value—key for both buyers and sellers.

What to Expect During a Home Appraisal in Ontario

Whether you’re selling your home, refinancing, or buying with a mortgage, a home appraisal is a big step in the real estate process. It’s the bank’s way of making sure a property is worth what someone’s paying for it—and it plays a key role in getting a deal across the finish line.

But what actually happens during an appraisal? And what should you expect here in Ontario?

📝 What Is a Home Appraisal?

A home appraisal is a professional estimate of a property's fair market value. It’s completed by a licensed appraiser who is hired by the buyer’s lender (or sometimes by a seller or homeowner directly).

Unlike a home inspection, which looks for problems, an appraisal looks at value—comparing your home to similar properties that have recently sold nearby.

📌 When Do Appraisals Happen?

• Buyers: After an offer is accepted and financing is underway
• Sellers: Some sellers order one pre-listing to guide pricing
• Refinancing: Lenders want to verify current value

🔍 How the Appraisal Process Works in Ontario

In Ontario, appraisals are usually completed by professionals who are members of the Appraisal Institute of Canada (AIC). The appraiser will schedule a visit, assess the home in-person (or virtually in some cases), then use recent comparable sales and market data to determine a value.

What They Look At:

• Location and neighbourhood
• Size of the home and lot
• Number of bedrooms and bathrooms
• Overall condition and upgrades
• Age of roof, furnace, windows, etc.
• Recent sold prices for similar nearby homes

⚖️ Appraisal vs. CMA vs. MPAC Assessment

Appraisal: Done by a licensed appraiser, used by lenders and courts

CMA (Comparative Market Analysis): Done by a Realtor® (like me), used for pricing and strategy

MPAC Assessment: Used for taxes—often lags behind current market value

Want a no-pressure market valuation from a local expert? Click here to request a free home evaluation.

🧹 How to Prepare for an Appraisal

Appraisers aren’t judging your furniture—but a clean, well-maintained home still helps. Here’s what you can do to boost impressions:

• Declutter main living spaces
• Touch up paint or small repairs
• Make sure the appraiser can access the furnace, basement, and electrical panel
• Have a list of upgrades or renovations ready
• Trim bushes or snow-clear walkways for curb appeal

📈 After the Appraisal: What Happens?

After visiting, the appraiser sends a detailed report to the lender (or whoever ordered it). That report includes their opinion of value and a breakdown of how they reached it.

If the value matches or exceeds the purchase price, things move ahead smoothly. But if the appraisal comes in low, it could mean:

• Renegotiating the price
• Increasing the buyer’s down payment
• Appealing the appraisal (rare, but possible)

❌ Common Appraisal Myths

• Myth: “Appraisers ignore upgrades.”
  Truth: They consider upgrades—especially kitchens, bathrooms, and mechanicals—but they must stay within market norms.
• Myth: “My tax assessment equals my home's value.”
  Truth: Assessments often lag years behind. Market value is what today’s buyers are paying.
• Myth: “The appraiser works for me.”
  Truth: Unless you hired them directly, they work for the lender.

🔚 Final Thoughts

Appraisals are a standard part of most real estate deals in Ontario. They’re not something to stress over—but understanding how they work gives you a major edge.

If you’re thinking of selling or just curious about what your home is worth, I offer free evaluations tailored to Brockville, Ottawa, and the Eastern Ontario market. No pressure, no spam—just honest advice from a local expert.

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