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CASH APPRAISAL CONTINGENCY ADDENDUM ADDENDUM # dated to Contract of Sale between Buyer and Seller for Property known as . The Contract is contingent upon Buyer obtaining an appraisal of the Property.

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A contingency clause often states that your offer to buy property is contingent upon X,Y, & Z. For example, the contingency clause may state, “The buyer's obligation to purchase the real property is contingent upon the property appraising for a price at or above the contract purchase price.”

Therefore, an appraisal contingency means that if your home doesn't appraise for the amount you've agreed to pay, you can walk away from the deal with your deposit. An appraisal determines the fair market value of the home you'd like to buy.

The Appraisal Contingency Addendum to Agreement of Sale (Form ACA) is to be used when the parties wish to make the agreement contingent upon the property appraising at a certain value. By using either option given in Form ACA, the parties can decide what will happen if the appraisal doesn't reach a specified value.

Since the appraisal contingency clause is standard on most purchase agreements, it must be removed in writing. Understand the risks of removing an appraisal contingency. ... Tell your real estate agent you want to remove the appraisal contingency. ... Complete the contingency removal form. ... Sign the form.

You should only consider waiving appraisal contingency if you've talked with your real estate agent and feel strongly that you'll need to waive it to get your offer accepted, or it's very unlikely for the appraisal to come in low.

What is an appraisal contingency addendum? An addendum is a separate form that, once signed by the buyer and seller, becomes part of the sales contract. Appraisal contingency addendums are state-specific and allow buyers to move forward with their purchase under certain agreed-upon conditions.

What are the risks of removing the appraisal contingency? The biggest risk is that you will be responsible to make up any difference between the purchase price and the appraisal value if it comes in low.

What is an appraisal contingency addendum? An addendum is a separate form that, once signed by the buyer and seller, becomes part of the sales contract. Appraisal contingency addendums are state-specific and allow buyers to move forward with their purchase under certain agreed-upon conditions.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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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
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
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 workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
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