Private sales and family transfers
Not every Manitoba home sale goes through a realtor. Parents sell to adult children, neighbours buy the house next door, landlords sell to long-term tenants and co-owners buy each other out. Private sales can save on commission, but they lose the market exposure that normally sets a fair price. An independent appraisal gives buyer and seller a shared, documented reference point.
For family transfers, an appraisal also provides a record of value that can help with fairness among other family members and conversations with your accountant. Our article on private home sales in Manitoba explains why the appraisal protects both sides.
Buying out a co-owner
When siblings inherit a home together, or friends or partners own a property jointly, one owner often buys out the other. A neutral appraisal avoids arguments over which online estimate is right. For buyouts after a relationship ends, see separation and divorce appraisals.
Appraisals before listing
Some owners order an appraisal before they list, especially for unusual homes, acreages or properties in small towns where there are few recent sales. An independent value can help you set a realistic price, plan renovations and avoid surprises when a buyer's lender orders its own appraisal. Read should you get an appraisal before listing? for the pros and cons.
If the buyer needs a mortgage
A buyer who is financing the purchase will usually need an appraisal the lender accepts. Tell us when you order if a lender is involved, and we will prepare the report so it can be used for mortgage financing as well.
Common questions
Do I need an appraisal for a private sale?
It is not required by law, but it gives both sides an independent value. If the buyer is financing, the lender will usually require one anyway.
Can you appraise a home sold within the family?
Yes. Family transfers are among the most common private sales we appraise. Speak with your accountant about any tax implications.
How is an appraisal different from a realtor's market analysis?
A market analysis helps set a listing price and is prepared by someone with an interest in the sale. An appraisal is an independent opinion of value prepared to professional standards.
Who receives the report?
The person who orders it. In a private sale, the buyer and seller often agree to share one report.