Re:Investors bought a record share of U.S. homes in 2021
by classichasclass on Thursday February 17, 2022 @11:51AM
(#30375313)
No, you waive the appraisal contingency; the bank still does their own appraisal. If the property appraises low, you pay the difference. In this market, we kept some reserve for that eventuality to make the application competitive. The sellers want a buying frenzy and that's what's happening, so many properties don't appraise since those values are usually calculated on historical sales.
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