Seller wants an offer near C$1,829,000, while competing bids may exceed the best completed comparables. We can absorb a valuation shortfall up to C$43,880, but not an open-ended gap. Would you state that cap, retain a full financing/valuation condition, or reduce the offer price instead? I do not want to win this Calgary apartment by creating a financing problem. I also want to preserve inspection protection and understand the deposit exposure before the response deadline.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Cap appraisal gap or keep financing condition on Calgary apartment?
- Thread starter MinaGale
- Start date
nimble_way
First-time buyer
I would keep the valuation condition unless your lender has already reviewed the apartment, your financing proof and the relevant completed comparables. A C$43,880 cap is clearer than an unlimited promise, but it still means having that cash available in addition to the down payment, closing costs and any repairs. A lower headline offer is safer, though possibly less competitive.
What is driving the seller: price certainty, a fast response, or fewer conditions? That missing fact matters. You might offer near their number with a defined appraisal-gap cap and inspection protection, rather than surrendering both conditions. Also ask how the deposit is treated if financing fails because the valuation comes in low; the wording and Alberta practice need careful confirmation.
I disagree that the C$43,880 cap automatically makes the offer safer. If the completed comparables already point materially below C$1,829,000, the cap may simply commit you to the first C$43,880 of a foreseeable problem. I would start from the value you can support, then decide whether the apartment itself justifies paying a premium—not work backward from the seller’s target.
Before the deadline, send the lender or broker the listing details and strongest completed comparables and ask what they still need. Separately, rank the terms you can trade: response time, deposit, appraisal-gap amount, inspection, and possible repair credits. Do not let a repair credit substitute for inspection protection; an unknown defect and a low appraisal are two different risks.
The seller-motivation question is the key follow-up. If certainty matters more than the absolute price, a capped gap plus solid financing proof may be more persuasive than a higher but fragile offer. If they only want the largest headline number, lowering the offer may simply end the negotiation—which can still be better than accepting deposit and financing exposure you cannot comfortably carry.