Timing of Sale:
Choose properties that sold as close to July 1 last year as possible:
- Sales comparables are not restricted to those that occurred before July 1. You and BC Assessment may pick sales that occurred before or after this date.
Similarity:
You should look for sales comprables that are the most similar to your property:
- Look at things like the size of lot, the size of the house, its age, condition, quality, and so on.
- Location is a key factor. Comparables that are far away from your property are the less useful.
Listings:
Listings of properties for sale are less useful than actual sales:
- The problem with a listing is we do not know the property's selling price until it sells. The selling price might be significantly different from the asking price in the listing.