Appraisals

Why Choose Kirby Chan for Value Guidance

What sets Kirby of Kirby Chan & Co. Real Estate Team apart is his unique background. Before building his real estate team, he worked as a licensed real estate appraiser from 2003 to 2010, completing formal bank appraisals under CUSPAP standards. This experience gives him a deep understanding of how lenders evaluate property value, combined with real-world market insight that supports strong pricing and negotiation strategies.

Know the Real Value Before You Buy

When purchasing a home, knowing what it is worth is just as important as knowing how it feels. In competitive markets, list prices do not always reflect true market value. Overpaying, even slightly, can have long-term financial consequences.

Kirby Chan & Co. Real Estate Team provides professional Letters of Opinion that offer clear, market-based value guidance before you make an offer. These assessments are grounded in recent comparable sales, neighbourhood trends and property-specific details. They are designed to help buyers understand fair value so they can negotiate confidently and avoid costly mistakes.

A Letter of Opinion is not a replacement for a bank appraisal, but it is often a practical option for buyers who want clarity without the time and cost of a formal appraisal. It is especially useful when comparing properties, preparing an offer, or reassessing value after inspections.

The team also supports clients across all major real estate life cycles, including First-time Home Buyers planning, Upsizing , Downsizing , Probate matters, and Divorce -related transitions. Appraisals are frequently required during estate administration, separation agreements, refinancing, or investment decisions, where a clear and objective valuation helps guide informed and balanced outcomes.

At the end of the day, it’s about empowering you to move forward with certainty, not guesswork.

Appraisals vs. Letters of Opinion: What’s the Difference?

Both formal appraisals and Realtor Letters of Opinion estimate property value, but they serve different purposes. Understanding which option you need can save time, money and confusion.

Formal Appraisals
Formal appraisals are completed by licensed appraisers, often with AIC designation and must follow CUSPAP standards. These detailed reports are typically required by lenders for mortgages, refinancing, HELOCs and other financing approvals. They are also commonly used for legal matters, estate settlements and government requirements.

Realtor Letters of Opinion
A Realtor Letter of Opinion, sometimes called an Opinion of Value or CMA, is prepared by a licensed real estate professional. It is based on recent comparable sales, market conditions and property features. While it does not meet lender or court requirements, it is ideal for pricing strategy, pre-listing planning, negotiation preparation, investment review and capital gains planning.

Before You Choose, Confirm With Your Lawyer or Accountant
Some situations legally or financially require a formal appraisal. Before ordering one, it’s important to speak with your lawyer or accountant to confirm whether a CUSPAP-compliant appraisal is necessary, or if a Realtor Letter of Opinion from Kirby Chan & Co. Real Estate Team is a more practical and efficient option for your goals.

How the Letter of Opinion Process Works

Frequently Asked Questions