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Va Escape Clause Form

Va Escape Clause Form

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today we're going to be talking about the va escape clause yes this is an important part of any contract for a va purchase that as a buyer you want to be aware of so what is it basically it's this it's one page and it's like that much verbage and both the buyer and the seller have to sign it and it basically says that if the appraisal comes in below the purchase price the seller cannot force the buyer to buy the home okay so that's very important to know in this market and i run into this with realtors a lot where they're like well can we waive the appraisal contingency and i'm like there's no point to it you know any smart listing agent is going to recognize that with va you have this escape clause so even if you waived the appraisal contingency it's moot because this clause says they can't force you to pay over appraised value okay so what is an appraisal contingency so it means that basically the house you buying the house is contingent upon the appraisal coming in at the purchase

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