Quote:
Originally Posted by hooligan_COLD
I still don't understand what the assessment waiver is/does.
Why did the seller want it waived? How does it hurt them if it's not waived? How does it hurt you if it is waived?
Sorry you missed out on a good home, though.
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Guy comes, does assessment of house value for bank, if house is assessed less then selling price you have 3 options, Buy, Back out, or Seller can reduce the price by amount you agree on. My realtor said it's a standard practice, you will know the price of the house and you can potentially get a discount from seller. Other realtor didnt want any of those games where sale can lead to dead end, that's why she wanted waiver on this signed