Tag Archive for: appraisal contingencies

Appraisal Waivers; Appraisal Contingency Waivers; & DANGER!

/in ,
Many lenders are again touting “Appraisal Waivers” as something unique that only they offer. Appraisal or “Property Inspection Waivers” are, however, available to every borrower obtaining a “conforming” loan (that […]Read More

DANGER! Appraisal Waivers Can Disappear!

/in ,
I recently blogged about the increasing occurrence of Appraisal Waivers. If a particular property is already in Fannie Mae’s or Freddie Mac’s database, it could be eligible for an Appraisal […]Read More

Not Enough Appraisers For Current Loan Volume; Thankless Job

/in ,
Due to the very low rates and recent surge in loan volume, there are simply not enough appraisers to meet the current demand. We are temporarily quoting 10 day appraisal contingencies, which is much longer than typical for JVM but still far faster than industry averages right now.Read More

Switching to FHA or 80/10/10 If Appraisal Comes In Low

/in ,
We often have buyers make offers with no appraisal contingencies as a necessity in competitive situations. We remind those buyers that they have several options if their appraisal happens to […]Read More

Waiving Appraisal Contingency? More Down or Switch to FHA

/in ,
Appraisals are used to estimate a property’s value. Appraisers use the property’s location, condition, and the current market to determine its appraised value. The Appraisal Contingency allows the buyer to walk away from the purchase contract if the property’s appraisal comes in lower than the contract price and the seller is unwilling to come down from the contract price.Read More