Bottom line: Your bank isn't refusing your purchase price — it refuses to lend more than the mortgage value it has retained (typically 85-95% of the appraised value). If the expert appointed by the bank retained a value below your acquisition price, your loan is mechanically reduced. Three options: (1) top up with equity, (2) negotiate the price with the seller, (3) commission an independent counter-appraisal to have the value revised. Here is how to proceed.
Why does the bank retain a value below the purchase price?
Several possible reasons:
1. The expert doesn't have the right comparables. If the appraisal is rushed (a bank wanting to secure quickly), the expert may rely on undervalued or insufficiently representative comparables.
2. You are buying above the market. Seller pressure, love at first sight, unfamiliarity with the local market — you pay 10-20% above the real value.
3. The bank deliberately under-applies a prudence factor. In a risk zone (isolated peri-urban, rural land, old property without renovation), the bank applies a high prudential discount.
4. The property has a hidden legal defect.Easement, residual undivided ownership, occupation, dispute — the expert saw it, you didn't. Investigate before continuing.
Option 1 — Top up with personal equity
If the gap is small (10-15% of the price), the fastest route: increase your equity to fill it. Example: price 2.5M MAD, bank appraisal 2.3M MAD, mortgage value 2.07M MAD (90%). The bank lends you 2.07M, so you must contribute 430K (vs 250K initially). A simple solution if you have the cash. Downside: your post-purchase savings are eroded.
Option 2 — Negotiate the price with the seller
You now have an objective, written argument (the bank appraisal) stating that the property is worth less than what you are paying. Present it to the seller and ask for a 5-10% adjustment. They may refuse, but depending on how long the property has been on the market, their personal urgency, and the state of other offers, they may accept. If the preliminary agreement is already signed without a full-financing condition precedent, you are stuck and move to option 3.
Option 3 — Independent counter-appraisal
This is the expert route. Commission an independent RICS-certified firm (like ReaConsult, from 3,500 MAD excl. tax) to produce a counter-appraisalto set against the bank's. The new expert analyses the comparables, methodology and adjustments of the bank's expert, then defends a revised value if it is methodologically justifiable. If the gap is significant, the bank re-examines its file — particularly if you are a good client.
Preventive strategy — pre-acquisition appraisal
The best strategy: commission your own appraisal BEFORE signing the preliminary agreement. For 3,500-5,000 MAD excl. tax, you obtain an independent value of the property before committing. If the appraised value is below your agreement price, you renegotiate before signing. If it confirms your price, you buy with peace of mind. This reverses the usual sequence (where the appraisal comes once the agreement is signed). Especially recommended for MRE buying remotely.
FAQ
How much does a counter-appraisal cost?
From 3,500 MAD excl. tax, similar to a standard appraisal. The 50,000-200,000 MAD gap it can recover easily covers its cost.
Will the bank accept my counter-appraisal?
Not automatically, but it will review it. If it is methodologically defensible (RICS Red Book, recorded comparables, documented adjustments), the bank generally revises its position — possibly a partial revision depending on your profile and the gap.
What if the bank refuses it too?
Either accept the gap and top up with equity or negotiate with the seller, or change banks — each bank commissions its own experts and values may vary. Comparing 2-3 banks is healthy.
How long does it take?
5-8 business days standard. Express 48-72h available with a 20-30% surcharge.
MRE in France — will my French banker accept the report?
A report compliant with RICS (Red Book) / IVS 2025 standards can support your position with any Moroccan bank and is acceptable to foreign banks operating in Morocco. For French financing secured against a Moroccan asset, your tax adviser coordinates.
Before signing or contesting a bank value, have the property assessed by our independent RICS appraisal service and browse more analyses on the ReaConsult blog.