What to Do If Your Montreal Appraisal Comes In Low
Practical next steps for Montreal buyers and sellers when a lender appraisal is below the purchase price — ROV, second opinions, and negotiation.
A low appraisal in Montreal usually means the lender
A low appraisal in Montreal usually means the lender will advance mortgage funds based on the appraised value, not the purchase price. The gap becomes the buyer's responsibility unless the contract is renegotiated.
First step
First step: ask the mortgage broker or lender what reconsideration of value (ROV) process is available. Most lenders accept additional comparable sales, factual corrections, and permit / renovation evidence.
Second opinion
Second opinion: a fresh appraisal from a different qualified Montreal appraiser may be warranted where the first was a desktop or drive-by product, the comparables look weak, or the property has features (Downtown condo — mortgage, refi, or partage de biens after separation) the first appraiser may not have credited.
Plex transactions concentrate around the July 1 tradition…
Plex transactions concentrate around the July 1 traditional lease-end date; off-cycle comparable depth weaker. A low appraisal in a thin-comparable window is not always wrong — it may reflect the local sale pool.
Treat the appraisal as data, not a verdict
Treat the appraisal as data, not a verdict. Rebuttals succeed when they include better comparables and specific factual corrections, not when they argue about the value conclusion in isolation.
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