02/17/2026
Ottawa Home Buying Dictionary (1/50) —
Above Asking
“Above asking” means the buyer offered more than the home’s list price (the price you see online).
Example:
Listed at $200,000 → offer $210,000
That’s $10,000 above asking.
Why it matters (Ottawa):
The list price isn’t always the “true value.” Some homes are priced low on purpose to attract more showings and offers.
“Above asking” doesn’t automatically mean someone overpaid. The better check is what similar homes actually sold for recently in the same area (comparable sales).
If you’re buying with a mortgage, a lender may rely on an appraisal. If the appraisal comes in lower than your offer, you may need to adjust the offer or bring extra funds (depending on the situation).
The goal isn’t to “win” — it’s to offer a number that fits your budget and comfort level.
Question: What home-buying word confuses you most right now?