Borealis Appraisals Ltd.
Relocation Appraisal
What is an appraisal for relocation purposes?
If you are a serving Canadian Forces, RCMP member or other participating Government Agency employee, you may need a relocation appraisal when you are required to transfer to another city. Terms of the relocation appraisal are determined by the Relocation Directive associated with the member’s agency. The directive often offers sale benefits to relocating individuals based on the appraised value of their home as well as real estate agent’s values in an effort to reduce the financial strain of the move for the individual. This type of appraisal can be used to establish the value for a buyout, reimbursement, or to assist in selling the home. The focus is often on determining the current market value that the agency can use to reimburse or facilitate the relocation process. It can also be used to set an offer or determine how much the company will pay for the employee’s home as part of a relocation package.
How is a relocation appraisal completed?
The appraiser considers comparable properties in the local market and evaluates the property’s value based on current market conditions, but there may be more flexibility depending on the agency’s requirements as outlined in the Relocation Directive