Waiving an appraisal contingency is a strategic decision in a real estate transaction that may make an offer more appealing to a seller, especially in a competitive market. As a Realty Empire agent, if you and your client decide to waive the appraisal contingency, it’s crucial to handle this carefully within the offer documentation. This requires explicit language in the purchase agreement that states the buyer is waiving the appraisal contingency, indicating that they agree to proceed with the purchase regardless of the appraisal value. Our experienced team can provide you with the appropriate clauses and language to include in the contract to ensure that your client’s intent to waive this contingency is clear and legally binding.
It’s important to note that waiving the appraisal contingency carries certain risks, and it is your responsibility as a Realty Empire agent to ensure that your clients fully understand the implications of this decision. The buyer may be obligated to cover the difference out of pocket if the appraisal comes in lower than the purchase price. As part of our commitment to excellence in service, we ensure that you have access to the latest training and resources to guide your clients through this decision-making process. Our goal is to empower our agents to provide informed advice, helping clients make strategic choices that align with their financial and home buying goals.
