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JIMMY KWON & LISA YUN DOMINION LENDING CENTRES
Cell:  604-808-1050        
An appraisal will be required by the lender to confirm the value of your property.   An appraisal is a written estimate of a property’s market value completed by an appraiser. The value is based upon a market analysis of recent sales prices for similar properties in the area, and the property’s physical condition.  Because home values can vary considerably, even in the same neighborhood, it’s important for the lender to have an objective opinion of the value of a home before making a loan that will be secured by the property.
 
As the lender is approving the mortgage based on the purchase price they want to ensure that the market value, as determined by a qualified licensed real estate appraiser, is supported.
 
The appraiser will provide a detailed report for the lender typically using comparable properties sold within a certain time period to support the purchase price.
The information and services offered on this Site are provided with the understanding that neither Dominion Lending Centres Inc., nor its suppliers or users are engaged in rendering legal or other professional services or advice. Although we strive for accuracy, timeliness and completeness, information quoted is not guaranteed and may change at any time and the information you obtain at this site is not, nor is it intended to be, legal advice.  If you require specific advice regarding your own situation please contact me for consultation.