Dated: 11/28/2018

Views: 28

Want to be a homeowner in Edmonton? Sherwood Park? St. Albert? Leduc? Beaumont? What do you do when the appraisal is low?

Few things in the home buying process are more frustrating than having your offer accepted, only to have the appraisal fall below your offer. But all is not lost! If the appraisal comes in below your offer, there are several tactics and strategies that can lead to a happy solution.

Get a second opinion: There’s no need to take the appraiser’s estimate as fact. You can pursue a value appeal, or you can discuss a second appraisal with your prospective lender. Sometimes you can even get the seller to pay for the second appraisal, because they will be motivated to complete the sale. Your real estate professional should be able to help you through the process of an appeal or a second opinion.

Renegotiate for a lower price: Unless the market is extremely hot, there’s a good chance the seller can be talked town to the appraised value. Sellers often prefer to complete the deal, rather than putting the property back on the market.

If all else fails, resist the urge to pay more: Sure, paying more in cash to cover the difference between the loan amount and the agreed upon sale price is tempting. Buying a home is an emotional experience, and you may think that this particular home is the only one that you’ll be satisfied with. Take a step back and consider searching for another property.

Want to keep up on what's happening  in Edmonton? Follow us here

Want to keep up on what's happening in Sherwood Park?  Follow us here

Looking to search for homes?  Click here

Want to find out what your home is worth?  Click here

Want to know more about Anita and Josh? Click here


Blog author image

Anita and Josh MacKinnon

Our clients expect unparalleled personalized service from us … and we deliver! Our clients come first and our process focuses on you – so that your real estate experience is an exceptional one. It....

Latest Blog Posts

Some Easy Landscaping DIY Projects

Well, after a very long winter here in  Edmonton and surrounding area, are you itching to get out do a DIY project? Whenever we do, our favorites involve getting outdoors and mixing up our

Read More

Countertops Pros and Cons

We love, love, love our kitchens. and when dressing our kitchen up we need to have beautiful countertop. Here are some pros and cons to different counter top surfaces.  Sometimes it is hard to

Read More


When you’re getting ready to list your home, it’s of the upmost importance to ensure you are showing it in the best light. Taking time to highlight its strengths and fix up some of its

Read More

What Buyers should know about Purchase Contracts

Every home sale starts with a real estate purchase agreement—a legally binding contract signed by home buyers and sellers that confirms that they agree upon a certain purchase

Read More