Whether you are an owner, or an advisor acting for one, the first step is a conversation. Tell us about the property and the purpose, and we will tell you candidly how we can help.
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Vancouver Office- 112-970 Burrard Street, Vancouver, BC V6Z 2R4
Kamloops Office - 500 Victoria Street, Kamloops, BC V2C 2B2
Common questions about how a valuation is prepared, what the report contains, and how the process works. If yours isn't answered here, ask directly.
An appraisal is an independent, professional opinion of a property's market value as of a specific date, prepared by a qualified appraiser and supported by documented market evidence. In Canada it is prepared to CUSPAP, the national standard for professional appraisal practice.
BC Assessment is a mass appraisal prepared by the province for taxation, reflecting value as of July 1 of the previous year and usually without an interior inspection. An appraisal is an individual valuation as of a current or specific date, based on a full review of your property and recent comparable sales. The two figures often differ, sometimes significantly.
A comparative market analysis is a pricing opinion prepared by a real estate agent to help list or sell a home. An appraisal is an independent valuation prepared by a designated appraiser to CUSPAP, intended to be relied upon by lenders, courts, and the CRA. Where a value must be defended, the appraisal is the document that carries weight.
CUSPAP is the Canadian Uniform Standards of Professional Appraisal Practice, the mandatory standard every designated appraiser in Canada must follow. It governs how value is researched, analyzed, documented, and reported, and it is why a CUSPAP compliant report is accepted in negotiation, in court, and before the CRA.
P.App CRA designation is national designation granted by the Appraisal Institute of Canada. They signify the education, experience, and ethical standards required to provide professional residential valuations.