Joel DyckReal Broker SK Ltd.
Saskatoon · From the topic map

Should my Saskatoon buyer's agent tell me to waive the appraisal condition or promise to cover an appraisal gap?

No agent should tell you to drop a protection or promise to cover a shortfall out of their own pocket. In Saskatchewan the relevant protection is a financing condition, and removing it is your decision with your money at risk. An agent registered with the Saskatchewan Real Estate Commission advises on the risk and documents your instruction, not the reverse.

Understand what you would be giving up. Without a financing condition, an offer becomes firm and you owe the purchase price whether or not your lender advances it. If the appraisal lands $15,000 under, that is $15,000 you produce in cash on possession day or you are in breach, with your deposit and potentially damages exposed. That is a real liability, not a formality.

An agent offering to pay part of the shortfall is a different problem again. Inducements of that kind touch commission disclosure and brokerage rules under the Saskatchewan Real Estate Commission, and a promise made verbally in a competing offer situation is worth very little when the money is actually due. If any such arrangement exists, it belongs in writing and in front of your lawyer.

There are situations where a firm offer is a reasoned choice, with a fully underwritten approval, a rate hold and cash sitting available to bridge a gap. That is a decision you make with the numbers in front of you. Joel Dyck lays out what each condition protects and what removing it would actually cost before an offer is signed.

Get your hand-reviewed valuation from Joel Dyck.

Still have a question?

Ask Joel directly. No form, no obligation, and a real answer even when the answer is that now is not the time to sell.