# Home appraisals in Coquitlam

> A home appraisal in Coquitlam is a formal valuation by a licensed appraiser, ordered by your lender as part of the mortgage approval.

**Source:** https://soldbycraig.ca/coquitlam-home-appraisal-explained/  
**Author:** Craig Johnston, REALTOR® (BC Licence V99960) · The MACNABS · Royal LePage Elite West  
**Site:** https://soldbycraig.ca

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Buyer · Appraisal

## Home appraisals in Coquitlam — what buyers and lenders actually need.

A home appraisal in Coquitlam is a formal valuation by a licensed appraiser, ordered by your lender as part of the mortgage approval. It's different from BC Assessment (mass-calculated, lagging) and different from a REALTOR® CMA (market-based opinion). Here's the real read.

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Quick Answer

What should you know about Coquitlam Home Appraisal Explained?

A home appraisal in Coquitlam is a formal valuation by a licensed appraiser, ordered by your lender as part of the mortgage approval. It **Craig Johnston, Top 1% Team Member — Greater Vancouver REALTORS®** and 47+ year Tri-Cities resident, can walk you through the local context. Free Strategy Call ends with a written one-page plan in 24 hours.

Verified · Buyer · Appraisal

## The framework.

Who orders the appraisal

Your lender (bank or alternative lender). Some lenders use AVM (Automated Valuation Model) for low-risk deals; full appraisals are required for high-LTV or non-standard situations.

Who pays

Buyer typically. Cost: $300-$500 for residential appraisal in Coquitlam. Some lenders absorb appraisal cost as part of the mortgage offer.

Who performs

Licensed appraiser, AACI or CRA designation through the Appraisal Institute of Canada.

What appraiser checks

Comparable recent sales (typically 3-5 sold within last 6 months and 2 km), property condition, lot, neighbourhood, current market trends, and the specific property's features.

Difference from BC Assessment

BC Assessment is mass-calculated, reflects July 1 prior year, used for tax. Appraisal is property-specific, reflects current market, used for lending.

Difference from REALTOR® CMA

CMA is your REALTOR®'s opinion based on recent solds. Appraisal is a licensed appraiser's formal opinion for lending purposes — more rigorous.

Low appraisal risk

If appraisal comes in below contract price, lender may reduce mortgage amount. Buyer must either bring more cash to closing OR negotiate price with seller OR walk (if subject-to-financing). One of the largest unexpected risks in active markets.

Appraisal contingency

Most BC residential subject offers include subject-to-financing. If appraisal-driven financing failure occurs during subject period, deal can collapse with deposit returned.

## Talk to Craig — a 47-year Coquitlam resident and licensed REALTOR®.

No pressure. No obligation. Just a 30-minute call to talk through your specific situation.

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[Call 604-202-6092](tel:+16042026092)
[Email Craig](mailto:Craig@SoldByCraig.ca)

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