Purpose of an Evaluation:
To Estimate The Market Value of Your Property
When you're deciding whether to put your home up for sale, there is no more important step than a proper valuation of the property. The worth of your property under current market conditions is known as Market Value.
According to Canada's courts, market value is "the highest price an asset might reasonably be expected to bring if sold by the owner in the normal method applicable to the asset in question in the ordinary course of business in a market not exposed to any undue stresses and composed of willing buyers and sellers dealing at arm's length and under no compulsion to buy or sell."
more simply put
Market value is "the price a willing Seller would sell and a willing Buyer would buy", neither being under abnormal pressure.
How this is accomplished
John typically prices a home on the basis of three or more "comparables" which are similar properties that have recently sold.
Then he adjust for distinct features of the house and property in question, considering condition, area, size, and the level of competition in terms of other homes for sale nearby. In the end, he recommend a price range for marketing your home, but of course -