An appraisal waiver is an exemption granted to a buyer during the homebuying process, allowing them to forego the requirement of a property appraisal. Instead of a formal appraisal, the lender relies on other factors to assess the property’s value.

This waiver is typically offered by the lender and is based on several factors, including the buyer’s creditworthiness, the loan-to-value (LTV) ratio, and the property’s location, type and value. It’s important to note that not all buyers will qualify for an appraisal waiver, and lenders may still require an appraisal in certain situations.

From understanding appraisal waivers to navigating every step of the process, I’m here to help you confidently move forward. Contact me today to begin your journey with clarity and confidence!