The Appraisal Waiver Pre-check tool is a fantastic tool if you are buying or selling. Basically all that is needed is the property address and the Approximate Value.
The system will tell you if the property qualifies for an Appraisal waiver if there is 20% down in the transaction.
If your client is purchasing and has 20% to put down, we can check and see. If you get the waiver, it saves the customer the cost of an appraisal. ($500)
If you are a Realtor who has a listing and the property qualifies, we remove the obstacle of the appraisal that could potential kill your deal. This also speeds up how quickly we get to closing because usually the appraisal is the slow link on a file.