Property Assessments vs. Market Value
Do not rely on your BC assessment for a fair market value of your property.
The ‘assessed’ value was determined last July, your local market may have changed since then.
Do not rely entirely on a buyer’s opinion or a seller’s opinion in a private transaction to determine fair market value.
Do not rely entirely on your neighbours’, friends’, or family members’ opinions for fair market value.
Do consider ordering a marketing appraisal, but do not rely on it 100%… OK maybe 98% on this one though.
Do consider an evaluation by an experienced, active, local Realtor or two, or three. These opinions mixed with a marketing appraisal are the best indicator(s) of a fair market value.
Ignore general media opinions, and ignore opinions of armchair experts. Always speak with people who have their feet on the ground and their heads in the game – the real experts.
For a longer read on this topic, click here.