Terms of Use
Danny Macedo, REALTOR®
Please read these terms and conditions carefully before using this site. This site is provided by Danny Macedo, REALTOR®, Royal LePage Supreme Realty, Brokerage ("we", "us" or "our"). By using this site, you agree to be bound by the terms set out below. If you do not agree with these terms, please do not use this site.
Acceptance of Agreement
By accessing or using this site (the "Site"), located at www.macedorealestategroup.com, you agree to the terms of this Agreement, which constitutes the entire agreement between you and us regarding your use of the Site and its content. We may amend this Agreement from time to time. The current version will always be posted on the Site, and your continued use of the Site after any change constitutes acceptance of the revised terms.
Real Estate Regulatory Notice
This Site is operated in connection with real estate services provided in Ontario by Danny Macedo, REALTOR®, a registrant with the Real Estate Council of Ontario (RECO), operating under Royal LePage Supreme Realty, Brokerage. All real estate services referenced on this Site are provided in accordance with the Trust in Real Estate Services Act, 2002 (TRESA) and the regulations and code of ethics administered by RECO. Nothing on this Site should be taken as a substitute for representation agreements or disclosures required under TRESA.
Copyright
The content, organisation, graphics, design and other elements of this Site are protected by applicable copyright and other intellectual property laws of Canada. You may not copy, reproduce, modify or publish any part of this Site without our express prior written permission.
Modification of Content
We reserve the right, at our discretion and without notice, to edit or remove any content on the Site, including this Agreement.
Indemnification
You agree to indemnify and hold harmless Danny Macedo, REALTOR®, and Royal LePage Supreme Realty, Brokerage, together with their officers, employees and agents, from any liability, loss, damage, claim or expense, including reasonable legal fees, arising from your breach of this Agreement or your use of the Site.
Disclaimer
The content and services provided through this Site are provided "as is" and "as available". To the extent permitted by applicable Ontario and Canadian law, we disclaim all warranties, express or implied, including warranties of merchantability, fitness for a particular purpose and non-infringement. The Site may contain errors or omissions. We are not liable for any indirect, incidental or consequential damages, including loss of business or loss of profit, arising from your use of or inability to use the Site, except where such liability cannot be excluded under Ontario consumer protection law.
Nothing in this Disclaimer excludes or limits liability for death or personal injury caused by negligence, for fraud, or for any other liability that cannot lawfully be excluded under the laws of Ontario, including the Consumer Protection Act, 2002.
All information on this Site is provided for general information only and does not constitute professional, legal, financial or real estate advice specific to your circumstances. You are responsible for independently verifying the accuracy of any information before relying on it, including property listings, market data and valuation estimates.
Limits of Liability
We are not liable for any damage caused by viruses or other harmful components that may affect your device as a result of accessing this Site. We will not be liable for incidental, special or consequential damages arising from your use of, or inability to use, the Site.
Third Party Websites
This Site may link to third party websites. We do not control, endorse or take responsibility for the content, accuracy or practices of any linked site. Visiting a linked site is at your own risk, and that site's own terms and privacy policy will apply to you.
Submissions
Any feedback, ideas or content you submit to us through the Site (a "Submission") may be used by us without obligation of confidentiality or compensation to you, except where you have separately agreed with us in writing that a Submission remains your property, or where such use would breach the Copyright Act (Canada) with respect to material you did not create.
Consent to Be Contacted
By submitting your contact details through this Site, you consent to being contacted by Danny Macedo, REALTOR®, by telephone, text message or email regarding your enquiry, in accordance with Canada's Anti-Spam Legislation (CASL). Where consent is required under CASL for commercial electronic messages, we will obtain it before sending such messages. You may withdraw your consent at any time by using the unsubscribe link in any email, by replying "STOP" to any text message, or by contacting us directly at [email protected]. Standard message and data rates may apply. Submitting your details is never a condition of buying or selling any property, or of purchasing any goods or services.
Privacy
This Site collects personal information through its contact and enquiry forms, including at minimum names, telephone numbers and email addresses. That information is collected, used and disclosed in accordance with the Personal Information Protection and Electronic Documents Act (PIPEDA). Because the Site actively collects personal information, a standalone Privacy Policy is required, and should be linked from this page and from every form on the Site, disclosing what is collected, why, who it may be shared with, how long it is retained, and how a visitor can access, correct or request deletion of their information. That Privacy Policy has not yet been drafted and should be treated as an outstanding item before any form on the Site goes live or continues collecting data.
Accessibility
We aim to meet the requirements of the Accessibility for Ontarians with Disabilities Act, 2005 (AODA) in the design and operation of this Site. If you encounter an accessibility barrier, please contact us at [email protected].
Governing Law and Jurisdiction
This Agreement is governed by the laws of the Province of Ontario and the federal laws of Canada applicable in Ontario, without regard to conflict of law principles. Any dispute arising from this Agreement or your use of the Site shall be subject to the exclusive jurisdiction of the courts of Ontario.
Contact and General
This Site is operated by Danny Macedo, REALTOR®, Royal LePage Supreme Realty, Brokerage, 110 Weston Road, Toronto, Ontario, M6N 0A6. You may contact us at [email protected]. If any provision of this Agreement is found to be unenforceable, the remaining provisions will continue in full force.
Last updated: September 10th, 2026
Royal LePage® Supreme Realty, Brokerage
110 Weston Road
Toronto, ON M6N 0A6
Call 416-535-8000
Text 647-931-5151
Copyright 2026. Macedo Real Estate Group, Danny Macedo, Sales Representative, Anthony Rocco Macedo, Sales Representative, Royal LePage Supreme Realty, Brokerage all rights reserved assumes no responsibility for the accuracy of any information shown. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale or lease of real estate and may not be used for any commercial purpose or any other purpose.
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What a Home Appraisal Is and Why It Can Change Your Financing
Why the Appraisal Exists
When you apply for a mortgage, your lender is not lending against the purchase price. They are lending against the property's value as determined by an independent appraiser. The distinction matters because the two numbers are not always the same.
The appraiser's job is to protect the lender. If you default on the mortgage and the lender has to sell the property, they need to know they can recover what they lent. That is the entire purpose of the exercise. It is not a second opinion on whether you are paying a fair price, although it can function as one.
What the Appraiser Actually Does
A licensed appraiser visits the property, measures it, photographs it, and notes its condition, layout, and any significant features or deficiencies. They then compare it to recent sales of similar properties nearby, adjusting for differences in size, age, condition, lot size and location.
The result is a written report with a single number: the appraised value. Your lender uses that number, not the purchase price, to calculate how much they will lend you.
In Ontario, the appraisal is typically ordered by the lender after your offer is accepted. Some lenders use automated valuation models for lower risk transactions and skip the in-person visit entirely. You do not get to choose which method they use.
What Happens When the Appraisal Matches
If the appraised value meets or exceeds the purchase price, nothing changes. Your mortgage proceeds as approved. This is the outcome in most transactions, and when it happens you may never even see the appraisal report.
What Happens When It Comes in Low
If the appraised value is lower than the purchase price, your lender will only lend against the lower number. The practical effect is that you need more cash to close.
Here is the arithmetic. Suppose you are buying at $1,000,000 with 20 per cent down. Your mortgage would be $800,000. If the appraisal comes back at $950,000, the lender will lend 80 per cent of $950,000, which is $760,000. You now need $240,000 to close instead of $200,000. That is $40,000 more than you planned for.
At that point you have several options. You can come up with the additional funds. You can ask the seller to reduce the price to the appraised value, although they are under no obligation to agree. You can try a different lender, since appraisal standards vary. Or, if your offer included a financing condition that has not yet been waived, you can walk away.
If you have already waived your financing condition, walking away means forfeiting your deposit and potentially facing a claim for damages. This is the scenario that catches buyers off guard.
Why Appraisals Come in Low
The most common reason is a competitive offer situation. When several buyers bid on the same property, the winning price can exceed what comparable sales support. The appraiser is not interested in what the market was willing to pay in the heat of the moment. They are interested in what similar properties have actually sold for recently.
Other reasons include limited comparable sales in the area, a property with unusual features that do not add measurable value, or a neighbourhood where prices are changing faster than the comparable data can reflect.
What You Can Do Before It Becomes a Problem
The simplest protection is a financing condition. It gives you the right to walk away if your lender will not fund the purchase for any reason, including a low appraisal. In a competitive market where conditions are being waived, that protection disappears, and you are accepting the appraisal risk along with every other risk.
Before you waive a financing condition, ask your mortgage broker or lender whether they expect any issues with the appraised value at your offer price. They cannot guarantee the result, but they can tell you whether the price is significantly above recent comparables, which is where the risk sits.
If you are buying above asking in a multiple offer situation, build a cushion into your finances. Know exactly how much additional cash you could access if the appraisal comes in $30,000 or $50,000 below your purchase price. If you cannot cover that gap, you may not be in a position to waive the condition.
The Bottom Line
An appraisal is not a formality. It is a valuation that determines how much your lender will actually lend you. Most of the time it confirms what everyone already expects. When it does not, the consequences are financial and immediate. Understanding the process before you make an offer is the point at which you still have choices.
If you have questions about how an appraisal might affect your purchase, or you want to understand what comparable sales say about a property you are considering, call me at 416-560-4983 and I will walk you through it.
Danny Macedo, Macedo Real Estate Group, Royal LePage Supreme Realty, Brokerage.
