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To understand a property inspection waiver one must first know what is a home appraisal? this appraisal determines how much is the home worth. <\/p>
This appraisal is conducted by a licensed real estate appraiser who provides an unbiased assessment of the home\u2019s value. <\/p>
An inspection is done by the appraiser of the home\u2019s interior and exterior condition, taking into account its design and features to determine its value compared to recent home sales in the area.<\/p>\n
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During the home buying process, an appraisal is conducted and lenders review them to ensure that the purchase price is correct and they calculate how much of the home\u2019s value can be borrowed. <\/p>
The borrower may also need an appraisal for a mortgage to refinance so the lender can confirm that the value is high enough to replace their current mortgage with a new one.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t