Winning Offers & Waiving Appraisals - March 2025

How to Win a House

Your Offer is a Product

(So Make It a Good One)

The spring real estate season has begun and its busy! In this market, just throwing out a number and hoping for the best isn’t going to cut it. You’re likely going to find yourself in a multiple-offer situation where numbers start to look eerily similar, so everything else about your offer needs to stand out. And by "everything else," I mean the terms, the vendors, the little details that make listing agents think, Yes, this is the one.

Favorable conditions matter. Think: a solid downpayment (at least 20%, please), quick deposits and inspections (nobody likes waiting), and generous inspection terms (aka, what you’re willing to let slide). Are you throwing in monetary concessions for inspections or waiving the appraisal contingency? These are the things that can tip the scales in your favor.

And let’s talk about vendors. Not all mortgage brokers are created equal. If a listing agent calls to verify your financials and ends up speaking to a soulless call center instead of an actual human who knows your situation inside and out, that feels like a challenge. The best offers come with vendors who understand the local market—because what’s standard in one zip code might be a dealbreaker in another.

Of course, cash is king (always has been) or waiving appraisal, because it removes all the mortgage-related headaches. And if you’re financing, make sure your broker is legit, accessible, and knows your numbers inside and out.

Do you need to do all of this? Not necessarily. It depends on the house, the competition, and the general tenor of the market. That’s where we come in—to help you craft the smartest, sharpest, most irresistible offer possible. Let’s make it happen!

200 Park St, Montclair. Marketed by Meredith Bergmann Homes SOLD: $2.75M

Why are Sellers Asking Buyers to Waive Appraisal?

In today's competitive sellers' market, sellers are looking for buyers to present strong offer terms to ensure buyers address some of the variables that often cause a transaction to fall through. One of the main variables that has become increasingly common is for buyers to waive their appraisal contingency. While this can make an offer more attractive to sellers, it can also carry risks for buyers.

Understanding the Appeal of Waiving an Appraisal

When a buyer agrees to waive their appraisal contingency with the seller, they are agreeing to proceed with the purchase at the established price, even if the property appraises for less. Waiving the appraisal can make the offer stand out to sellers by eliminating the risk of a low appraisal derailing the transaction. This can be appealing, but can also introduce risk for the buyer. If the home is appraised for less than the purchase price, the buyer MAY BE responsible for adding funds to their down payment to meet the minimum loan to value (LTV) requirements set forth by the lender. Another option may allow the option of the buyer to pay a monthly mortgage insurance as part of their monthly payment in lieu of putting down additional money.

What To Do Before Waiving an Appraisal

Understand the Current Market Conditions:

As agents, we are aware of trends in the market and we can help you to understand the how they might affect the property's value.

Review the Property Details:

Part of a Real estate agent’s role is to help you to research the property and its comparable sales to ensure you are comfortable with the price.

Consult With a Real Estate Agent and Mortgage Advisor:

Discuss the risks and benefits of waiving an appraisal, specific to your situation. Also, understand if adding additional funds to your down payment would be required if you are waiving your appraisal.

This helpful article was provided by Ryan Barry and Dave Buckler of NJ Lenders Mortgage. As agents, we have several fantastic mortgage brokers who work locally. Don’t hesitate to ask us.

Local Happenings

March 16th

West Orange St. Patrick’s Day Parade 2025: A Perfect Excuse to Celebrate, Wear Green, and Maybe Drink a Guinness

If you’re the type of person who loves a good parade (who doesn’t?), mark your calendar for the West Orange St. Patrick’s Day Parade is happening, and it’s kind of a big deal. The main event steps off at exactly 12:15 PM from Mt. Pleasant Avenue and Main Street (West Orange Town Hall if you need a landmark). But honestly, just show up, have a good time, and enjoy the energy of a proper St. Patrick’s Day celebration—because that’s what it’s all about.

March 20Th

Art Meets Jazz

This year’s event highlights the artistry of Art Meets Jazz returns with the 7th installment in this annual performance series. This year’s event highlights the artistry of vocalist and composer Andromeda Turre, was recently awarded Best Jazz Album and Best Jazz Artist at the 2025 World Entertainment Awards. Turre graduated from Montclair High School in 2000. A catered pre-event wine and food reception is included with every ticket.

March 24th

A Likely Story

Likely Stories is a captivating evening of storytelling, inspired by Isaiah Sheffer’s Selected Shorts at Symphony Space, all in support of The Adult School’s much-anticipated biennial fundraiser. The magic of the written word comes to life through performances by acclaimed actors like Christiane Noll (Urinetown, Dear Evan Hansen, Ragtime) and Eddie Kaye Thomas (American Pie series, Harold & Kumar series, The Marvelous Mrs. Maisel). Tickets ae $40 in advance and $50 at the door and $60 for reserved seating. Stay for the after-party and enjoy wine and dessert!

March 30Th

I Love a Tag Sale

Don’t miss a chance to get some great items at bargain basement prices in the most elegant setting in town: inside historic Van Vleck House! Everything at the sale must go!  We are getting rid of dishes, linens, furniture, a rug, Christmas decorations, lighting and more. Any items left at the end of the day on Saturday, the sale will be March 30  from 11:00 AM – 3:00 PM on Sunday. Cash only

APril 5-13

A Very Pretty Excuse to Go Outside: The Essex County Cherry Blossom Festival 2025

If there’s ever a time to beautify your life, it’s during peak cherry blossom season. The 2025 Essex County Cherry Blossom Festival at Branch Brook Park in Newark, NJ—home to over 5,000 cherry blossom trees (yes, even more than D.C., Branch Brook Park is open every day, and you can take a self-guided Historic Cell Phone Tour (very old-school cool). Peak bloom usually happens in mid-April, but nature does whatever it wants, so check for updates before you go. Admission: free. Parking: also free.

Featured Listings

Montclair

UNDER CONTRACT

182 Wildwood Avenue

5 BD 4 BA LIST: $1,195,000

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Meredith Bergmann

Lic. Sales Assoc.

Principal Agent

M: 917.355.4074

O: 973.310.7360

[email protected]

Jennifer Casey

Licensed Real Estate Salesperson

M: 917.209.5659

O: 973.310.7360

[email protected]