Want to save your buyer time and money on their home purchase? They may be eligible for a reduced appraisal. This gives qualified home buyers the option to decline to have an appraisal done on the property they are purchasing. Previous home value information is used to determine the value of the home rather than a traditional home evaluation.
Close faster: appraisal waivers can shave up to ten days off their loan turn time. Avoid the whole process of scheduling an appraiser, working around their and your own schedules, and waiting days on end to get the results back. What would normally add days, or even weeks, to your closing schedule could now not even need to be a concern of yours. This is especially helpful when a quick closing date is required.
Help your clients save hundreds of dollars on the appraisal fee.The most obvious benefit of an appraisal waiver is the cost savings. As the home buyer, you are responsible for paying for the upfront cost of the appraisal, which could cut into your savings or down payment. By taking advantage of appraisal waivers, these fees can be cut down significantly, if not avoided altogether. This will thrill your clients and allow them to put that money towards other areas in their home buying process.
Eliminate the worry of a low appraisal value by using an accurate computer program rather than using human appraisers. Appraisers are not common in certain rural areas, so this can really delay a closing process. The use of technology over human appraisers allows appraisers more time to focus on more complex matters that a computer can not yet do. According to the General Accountability Office, “assessments also side step the pressure to overvalue properties reported by some appraisers and can deliver more objective and consistent appraisal values than human appraisers.”
Find out if your buyer qualifies. Call today.