Request An Appraisal Waiver When Purchasing A Home
Request an appraisal waiver when purchasing a home, can help you win in this competitive market. I was showing my sister homes and we had lost on a previous offer to cash. We found another property and they had to write an offer well over the list price. They called their lender to ask if the appraisal could be waived. We were not in contract yet. My sister was putting 20% down and having to make up the price difference between offer and list price. They called their lender and asked to run the automated loan approval with an appraisal waiver.
The lender ran it through both Freddie and Fannie. Freddie said yes no appraisal needed, 12 offers and we won! We are all so happy for Cat and Greg. Having an appraisal waiver can help to compete against cash offers.
The loan was approved today and inspections completed yesterday, so far all going so well. Thinking out of the box in this climate is what helps an offer to win. If you want to potentially win in the multiple offer market, request an appraisal waiver when purchasing a home. Call Weintraub & Wallace Realtors. We can be reached at RE/MAX GOLD, Sacramento, and Elk Grove offices, 916-233-6759
— JaCi Wallace