What to Do If Your Saint John Appraisal Comes In Low
Practical next steps for Saint John buyers and sellers when a lender appraisal is below the purchase price — ROV, second opinions, and negotiation.
A low appraisal in Saint John usually means the
A low appraisal in Saint John 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 Saint John appraiser may be warranted where the first was a desktop or drive-by product, the comparables look weak, or the property has features (New suburban detached — mortgage at purchase with post-migration time-adjustment evidence) the first appraiser may not have credited.
Post-2021 in-migration compressed inventory
Post-2021 in-migration compressed inventory — comparable pools rebuild in spring and fall; winter reports lean on time-adjustment evidence. 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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