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- While your lender will likely require an appraisal, you can choose to waive an appraisal contingency but it is risky. By waiving the contingency, you’re committing to purchasing the property at the agreed-upon price, regardless of the appraisal outcome.
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Jul 19, 2024 · When Should I Waive An Appraisal Contingency? An appraisal contingency isn’t required for an offer letter. There are instances where it makes sense to include the appraisal contingency and others where it’s strategic to waive the clause.
Jan 4, 2024 · Can an appraisal contingency be waived? While your lender will likely require an appraisal, you can choose to waive an appraisal contingency but it is risky. By waiving the contingency, you’re committing to purchasing the property at the agreed-upon price, regardless of the appraisal outcome.
Apr 10, 2024 · Key Takeaways: Appraisal contingencies protect buyers and lenders from overpaying for a home. Buyers may choose to waive this contingency, especially in hot real estate markets, to make an offer stand out. Waiving the appraisal contingency could put your earnest money at risk.
Oct 20, 2022 · Should I Consider Waiving Appraisal Contingency? You should only consider waiving appraisal contingency if you’ve talked with your real estate agent and feel strongly that you’ll need to waive it to get your offer accepted, or it’s very unlikely for the appraisal to come in low.
Apr 17, 2023 · Should You Waive Appraisal Contingency? People often ask should appraisal contingency be waived. Obviously, there are pros and cons and some significant risks. In some cases, waiving the appraisal contingency can make a buyer's offer appear stronger and eliminate an unknown for the seller.
Nov 28, 2022 · When Should I Waive Appraisal Contingency? A buyer has to pay the total amount of the agreed-upon home price if there is no appraisal contingency. However, buyers do not always need to include an appraisal contingency.
Apr 27, 2023 · But is waiving an appraisal contingency a good idea – or even possible – if you're financing your purchase with a mortgage? Here's what you need to know about appraisal contingencies,...
