Frequently Asked Questions

• Fast and efficient turnaround time with quick response to follow-up questions.
• Approved for most bank, credit union, and private lending lists.
• Members in good standing with the Canadian National Association of Real Estate Appraisers (CNAREA).
• Fully insured in accordance with the Uniform Standards of Professional Appraisal Practice (USPAP).

An appraisal is a formal, impartial estimate of a property's market value as of a specific date. Performed by specialized data analysts, it involves a thorough examination of local market activity and the property's specific features (condition, finishes, and location) to ensure fairness in mortgage lending, separations, or tax reporting.

Real estate decisions require a precise, objective valuation to protect the financial interests of all parties. You typically need an appraisal to secure mortgage financing, settle an estate during probate, divide assets during a separation, or calculate capital gains taxes on an investment property.

• Appraiser: Delivers an objective, independent estimate of market value required by lenders, lawyers, and tax authorities.
• Realtor: Recommends a listing price to sell the property and manages the marketing and negotiation process.
• Home inspector: Examines the physical safety and mechanical function of the home without assigning a market value.

• Residential appraisal: This report values your property "as-is" by comparing your existing home to similar recently sold properties. Turnaround times are fast, typically requiring only 2-3 business days.
• Commercial appraisal: Evaluates your property based on its maximum development potential rather than just the existing structure, requiring extensive municipal zoning research and financial modeling. Turnaround times typically take 3-6 weeks.

Market value is the most probable price a property will bring on a specific effective date, assuming an open market, a willing buyer and seller, and adequate market exposure time.

Residential appraisers rely heavily on the direct comparison approach. We analyze recent, comparable sales in your neighborhood, apply market-derived adjustments for differences in features or condition, and reconcile these data points. We may also use the Cost Approach or the Income Approach depending on the property type.

Value depends on both the land and the improvements. Key factors include the lot location, size, and utility, alongside the age, construction quality, and physical condition of the home. External influences, such as heavy traffic noise or premium views, also directly affect the final valuation.

An appraisal provides a current, property-specific valuation based on a physical inspection and recent local sales. BC Assessment relies on automated mass appraisal formulas tied to a July 1 valuation date, which often misses the unique physical details, interior upgrades, or defects of an individual property.

An appraiser provides an independent opinion of value as of the assessment date (July 1). If the appraisal is lower than the BC Assessment value, it serves as professional evidence for your negotiation or appeal.

The on-site inspection typically takes 20 to 40 minutes and consists of a visual observation of the property. Full access is required to all rooms, suites, outbuildings, the electrical panel, and the heating system. Please ensure blinds are open, lights are on, pets are secured, and any requested documents are available. Photographs will be taken during the inspection for appraisal purposes only and remain strictly confidential.

Ensure the appraiser has access to all interior and exterior areas. Provide the following if available:

• Current property tax notice
• Floor plans
• A list of recent improvements (dates and costs)

The final written report is typically delivered within 1 to 2 business days following the on-site inspection, though complex properties may require additional time.

A rush order is typically completed within 24–48 hours of acceptance. This depends on complexity and may incur an additional fee.

No, as long as the appraiser can access all areas of the property. Please note that they may contact you afterward with a few clarifying questions.

After your report is completed, you will be emailed a PDF version. If you require a hard copy sent via Canada Post, an additional $25 fee applies.

Payment is accepted via Credit Card (Visa/MasterCard), e-Transfer, or Cash. Payment is typically due on the day of inspection. Reports are only released once the fee is paid in full. Existing accounts must be settled within 30 days.

The estate, the executor, or the individual requiring the tax reporting typically covers the cost, even if a lawyer or accountant orders the report on their behalf.

• Cancelled BEFORE property inspection: 100% refund.
• Cancelled AFTER inspection, but report not started: $100 fee.
• Cancelled AFTER report is started but not finished: 50% refund.
• Cancelled AFTER report is completed and submitted: No refund.

The report belongs strictly to the client who ordered it, as required by USPAP confidentiality rules. For mortgage financing, the client is your lender or broker. Paying the appraisal invoice does not automatically grant you a copy of the report; you must request it directly from the client.

No. Appraisers are bound by strict professional confidentiality rules. They cannot discuss your appraisal, share confidential information about your home, or disclose the assignment results with anyone other than the specific client who ordered the appraisal and parties explicitly authorized by that client.

• If a lender or bank ordered the appraisal: They are legally the appraiser's client. You must contact your lender directly for corrections or Reconsiderations of Value.
• If you ordered the appraisal directly: You are the client. You can contact the appraiser directly to point out factual errors for immediate correction or to discuss the final valuation.