In order to make an informed decision when carrying out a real estate project, an evaluation report is an indispensable tool in the decision-making process and in obtaining project financing.
An evaluation report of the POTENTIAL market value of the project will inform you, at the beginning of the project, of the estimated market value of your project once completed. The POTENTIAL market value will allow you to know its potential profitability, to justify the costs, and will be essential in obtaining financing from a banking institution or a private lender.
Flip project / Renovations
A valuation report of the CURRENT value of the property (before renovation), as well as a value estimate at the beginning of the project of the POTENTIAL value of the project (renovations considered as completed), will enable you to know its potential profitability, to justify the costs, and will be essential in obtaining financing from a financial institution or a private lender.
Progress of construction work
In new constructions or flip projects, financial institutions will free up the funds required to finance the project according to the progress of the construction work based on pre-established conditions or milestones set by the bank. An independent report on the progress of the work at the various stages of construction will allow you to obtain necessary funds to finance the following steps.
Rent to own
A valuation report of the market value of the property at the time of the transaction allows you to make an informed decision by ensuring that the sale price of the property at the end of the contract is based on a market value estimated by a professional chartered appraiser.