The gap between owing little and being equity rich usually comes from time rather than a single event. A mortgage paid down over 20 or 30 years combined with the kind of appreciation the Saskatchewan REALTORS Association tracks citywide can leave an owner with far more equity than they think, especially if renovations were added along the way.
The risk is treating a rough online estimate as the number that equity is measured against. Since automated tools work from public records and cannot see kitchen, basement or mechanical upgrades, they routinely understate what an equity-rich seller actually has to work with.
Knowing the real figure, not the estimate, is the first step before deciding what to do with that equity. Get your hand-reviewed valuation from Joel Dyck.