Appraisal vs. CMA · Which one do you actually need? · Free valuation for sellers
When Coquitlam homeowners search “home appraisal,” they often need two very different things. If you are refinancing or buying a new property, your lender will require a formal bank appraisal — ordered by the lender, performed by a certified appraiser, and used to confirm what they will lend against. If you are considering selling your Coquitlam home, what you need is not an appraisal — it’s a Comparative Market Analysis (CMA).
A CMA is forward-looking: it tells you what your home should list for and what it will realistically sell for on the current Coquitlam market. It is free, provided by your listing agent, and based on live MLS sold data filtered to your specific neighbourhood — not a national model or a July 1 snapshot. As of May 2026, Coquitlam homes are selling at 96–98% of list price. A CMA positions your listing to achieve that result, not to fall short of it.
Understand which one you need before spending money on the wrong tool.
Sebastian’s free home valuation at sebastianrealestate.ca/how-much-is-my-home-worth-coquitlam/ goes beyond a simple number. Here is what is included.
Based on current MLS sold comparables filtered to your Coquitlam sub-area, property type, and size — not a national automated model. Updated to the week, not to July 1.
See how your BC Assessment value compares to what similar Coquitlam homes are actually selling for. Your BC Assessment may be significantly above or below current market value.
Recent sold comparables filtered to your neighbourhood and property type, plus active competition — so you can see what buyers in Coquitlam are choosing instead of your home right now.
Current days on market, sale-to-list ratio, and absorption rate for your Coquitlam sub-area — the context you need to understand whether now is a good time to list.
Sebastian reviews your valuation and follows up with a full listing strategy recommendation specific to your sub-area, property type, and current market conditions. No obligation.
No cost to you, ever. A Realtor’s CMA is a standard part of the listing consultation process in Coquitlam — it is how Sebastian earns your trust before you decide whether to list.
How much does a home appraisal cost in BC?
A formal bank appraisal in BC typically costs $400–$700 for a standard residential property in Coquitlam or Port Moody. This is paid by the borrower (buyer or refinancing homeowner) and is ordered by the lender. It is not what sellers need before listing. A Realtor’s CMA is free and is the correct tool for sellers. Get your free Coquitlam CMA at sebastianrealestate.ca/how-much-is-my-home-worth-coquitlam/.
Do I need a home appraisal before selling in Coquitlam?
No. Sellers in Coquitlam do not need a formal bank appraisal before listing. The tool you need is a CMA (Comparative Market Analysis) — provided free by your listing agent. A CMA tells you what your home should list for based on current MLS sold data for your Coquitlam sub-area. A bank appraisal is required by lenders for mortgage purposes — a different scenario entirely.
What is the difference between a home appraisal and a CMA in Coquitlam?
A bank appraisal is backward-looking (confirms past market value for a lender) and costs $400–$700. A CMA is forward-looking (tells you what to list for and what you’ll sell for) and is free from your listing agent. For Coquitlam sellers, the CMA is the relevant tool. The bank appraisal is for buyers and refinancing homeowners, not sellers.
Is BC Assessment the same as a home appraisal or CMA?
No. BC Assessment reflects estimated market value as of July 1 of the prior year — a lagging indicator that can diverge significantly from current market value. Sebastian’s BC Assessment Watch tracks the ratio between current listing prices and BC Assessment values across 1,600+ Tri-Cities listings weekly — helping sellers understand whether their sub-market is currently pricing above or below assessed value.
Can Sebastian provide a formal home appraisal in Coquitlam?
No — Sebastian is a licensed REALTOR®, not a certified appraiser. He provides free CMAs, which are what Coquitlam sellers need to price and list their homes. If you need a formal appraisal for mortgage or legal purposes, you will need to engage a certified residential appraiser through your lender. For selling your Coquitlam home, get a free CMA at sebastianrealestate.ca/how-much-is-my-home-worth-coquitlam/.
What if my Coquitlam home’s appraisal comes in below the purchase price?
When a buyer’s appraisal comes in below the accepted offer price, it creates a financing gap — the lender will only lend against the appraised value, not the purchase price. This is typically addressed by renegotiating the purchase price, the buyer making up the difference with additional funds, or the deal collapsing if neither party can bridge the gap. Sebastian advises sellers on how to price listings to avoid appraisal gaps — another reason why accurate CMA pricing from day one matters more than optimistic overpricing.
Instant estimate + sold comps + BC Assessment comparison + neighbourhood market stats. Free. No obligation to list.
What Is My Home Worth?See what Coquitlam and Port Moody homes are actually selling for right now — weekly sale prices, days on market, and absorption rates by sub-area.
View Market PulseTalk directly to a Coquitlam listing agent who tracks every sub-area weekly and can give you a straight answer on what your home is worth right now.
Contact SebastianSebastian Czarkowski is a licensed real estate professional regulated by the BC Financial Services Authority (BCFSA). Brokerage: Royal LePage Elite West, Coquitlam, BC. REALTOR® is a certification mark owned by REALTOR® Canada Inc. Sebastian is not a certified appraiser and does not perform formal bank appraisals. The free CMA/valuation at sebastianrealestate.ca/how-much-is-my-home-worth-coquitlam/ is an estimate based on current MLS data and is provided for informational and seller consultation purposes only. Appraisal costs noted are estimates and may vary by property complexity and appraiser. Consult a certified residential appraiser for formal appraisal requirements.