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1990 N California Blvd Suite 16 Walnut Creek, CA 94596 www.EAWholesale.com ACKNOWLEDGEMENT OF PROPERTY INSPECTION WAIVER BROKER: BORROWER: PROPERTY: LOAN NUMBER: This is to advise you that the above.

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How to fill out the Property Inspection Waiver online

This guide provides a clear and comprehensive overview of how to complete the Property Inspection Waiver online. You will find detailed instructions on each section of the form, ensuring you have the support you need to navigate the process smoothly.

Follow the steps to complete your Property Inspection Waiver

  1. Click ‘Get Form’ button to obtain the form and open it in the editor.
  2. In the form, locate the 'BROKER' section and fill in the broker's name as applicable. Ensure accuracy in this entry as it identifies the party handling the transaction.
  3. Next, find the 'BORROWER' section. Enter the full name of the borrower, ensuring it matches their identification documents.
  4. Proceed to the 'PROPERTY' section. Provide the complete address of the property involved in the transaction. Double-check the details for correctness.
  5. In the 'LOAN NUMBER' field, input the loan number associated with this waiver. This number is essential for tracking and reference purposes.
  6. Review the information you've inputted carefully. Ensure that all fields are correctly filled out to avoid any processing delays.
  7. At the end of the form, you will find a section requiring acknowledgment. The borrower needs to sign and date to confirm they wish to proceed with the Property Inspection Waiver.
  8. Once all sections are completed and signed, save changes to the form. You can then download, print, or share the completed document as needed.

Complete the Property Inspection Waiver online today to simplify your loan process!

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Waiving an appraisal contingency can be a smart tactic for standing out in an extremely competitive seller's market. Doing so could eliminate a seller's fear that the deal might fall through if the property doesn't appraise for the initial asking price.

A home appraisal waiver, though, means that you can skip the in-person appraisal. This takes away some of the uncertainty that comes with an appraisal. It can also save you money, as buyers usually pay for the appraisal.

For value acceptance (appraisal waiver) to be considered, generally a prior appraisal must be found for the subject property in Fannie Mae's Collateral Underwriter (CU) data. When required, DU will compare the address for the subject property to the property addresses found in CU.

Being granted an appraisal waiver can save buyers money and time, since they do not have to pay for an appraisal and the closing process could be sped up. However, a professional appraisal is probably the most accurate way of determining a home's value, so buyers who skip it run the risk of overpaying for the home.

Losing a PIW can delay the closing because you'll now need an appraisal, and run the risk of the property under-appraising. Opting for a PIW will not give you the peace of mind of having a professional appraiser assess the market value of the property.

You are more likely to qualify for an appraisal waiver if your loan-to-value ratio is no higher than 80%. You can get to a lower loan-to-value ratio by coming up with a larger down payment when applying for your mortgage. The larger your down payment, the lower your loan-to-value ratio will be.

Lenders might waive a new in-person appraisal because the home's market value was calculated so recently. The same can be said for refinancing a home. If little time has passed since the original appraisal, a lender may be willing to waive the in-person appraisal when refinancing.

A property inspection waiver (PIW) mortgage is a mortgage that's eligible for an appraisal waiver, which means the loan can be approved without a full home appraisal report.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232