Home Equity Report
Equity is the true amount of money that you have invested in your home. It is calculated by deducting the mortgage & any other property related fees from the value. That is, the sale price or value less outstanding mortgages and any fees involved in a sale = EQUITY.
Home values are typically slow moving, cyclical and somewhat predictable over long periods of time. Over short periods, values are more volatile and influenced by factors such as consumer confidence, interest rates and the desirability of certain styles and amenities.
We use comparable sales analysis (CMA) to ascertain an estimated value. We provide a report which explains how we arrived at the estimate. You can then deduct your outstanding mortgage amount from this value estimate and you will have the approx. amount of equity you have in your property.