Newsflash: Right to relieve written appraisal question

First time buyer in NJ here. I’m purchasing a new construction for $325K. Conventional loan, 20% down. Closing date is 60 days from now.Currently going through the mortgage process and I received a “Notice of right to receive copy of written appraisal/valuation” form. I’m not sure which of the two I should be selecting…”I wish to receive a copy of the appraisal report or valuation no less than 3 business days prior to the closing of my loan.””I wish to waive my rights to have a minimum of 3 business days after the receipt to review my appraisal report or valuation prior to the closing of my loan.”Common sense tells me I shouldn’t waive. When I asked the mortgage company, they said to waive it. What am I missing here? Is there any downside to not waiving this and going with option 1?Thanks.

Read more at https://www.reddit.com/r/RealEstate/comments/6kusfa/right_to_relieve_written_appraisal_question/?utm_source=ifttt

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s