Appraisal Waiver Form

APPRAISAL WAIVER FORM

This Appraisal Waiver Form (the "Waiver") is executed by the parties identified below in connection with the Purchase Agreement dated and pertains to the real property described herein.

Parties

Property Identification

Waiver Election

The undersigned elects the following appraisal waiver option with respect to the Purchase Agreement referenced above:

Full waiver: Buyer hereby irrevocably waives the appraisal contingency in the Purchase Agreement. Buyer accepts the Contract Price as final for all closing and financing determinations without obtaining or relying upon a third-party appraisal.

Limited waiver: Appraisal requirement is waived only if the appraised value is no less than $ of the Contract Price, or if the lender's required loan-to-value ratio is met despite appraisal shortfall.

This Waiver pertains to the appraisal contingency originally set forth in the Purchase Agreement dated and shall apply for purposes of lender underwriting and buyer's obligations hereunder unless otherwise agreed in writing.

Consideration

In consideration for the waiver set forth herein, the parties acknowledge the following (select as applicable and provide amounts where indicated):

Representations & Acknowledgements

Buyer represents and acknowledges that Buyer has had the opportunity to obtain an independent appraisal and understands that by executing this Waiver Buyer is voluntarily foregoing the right to a contractual appraisal contingency as set forth in the Purchase Agreement. Buyer further represents that Buyer has relied upon Buyer’s own inspection, investigation and judgment in electing this Waiver.

Seller represents that Seller has disclosed known material defects in accordance with applicable law and the Purchase Agreement. This Waiver does not waive any statutory seller disclosure obligations nor does it constitute a representation that the property is free of defects.

This Waiver does not expand or limit lender rights; any appraisal requirement imposed by a lender may remain a condition of loan approval. Lender consent required: Lender consents to appraisal waiver

Disclosures

Lead-Based Paint (if property built before 1978): Yes No

Known Mold or Moisture Issues: Yes No

Prior Material Damage or Repair (including fire, flood, structural): Yes No

Indemnity and Release

To the fullest extent permitted by law, Buyer agrees to indemnify, defend and hold harmless Seller and Seller’s agents and the lender from and against any and all claims, losses, liabilities, costs and expenses (including reasonable attorneys' fees) arising out of or relating to Buyer’s election to waive the appraisal contingency, including without limitation any claim that would have been cured by an appraisal process.

The parties further acknowledge that this Waiver constitutes a bargained-for release of reliance on an appraisal and the allocation of risk between Buyer and Seller as expressly set forth herein.

Default; Remedies

A breach of this Waiver by either party will be subject to the default and remedy provisions of the Purchase Agreement. Remedies available to the non-breaching party shall include specific performance, damages, or other relief as provided by the Purchase Agreement and applicable law.

Governing Law; Entire Agreement

This Waiver shall be governed by and construed in accordance with the laws of the state in which the Property is located. This Waiver, together with the Purchase Agreement and any written amendments, constitutes the entire agreement of the parties with respect to the subject matter herein and supersedes all prior negotiations and understandings.

Any modification of this Waiver must be in writing and signed by all parties to be effective.

IN WITNESS WHEREOF, the parties have executed this Appraisal Waiver Form as of the dates set forth below.

Sign Now