Real Estate Markets Dictate Adding or Waiving Appraisals
Realty Biz
JULY 11, 2022
Sometimes a lender will waive the requirement of an appraisal when they know there is significant equity in the property. Generally, lenders will consider forgoing the appraisal when there is more than 25 percent equity in the home. The buyer pays for the appraisal as part of their closing costs.
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