Appraisal Waivers for lending

[David P.]

Hey Guys,

These apprasal waivers are starting to become common specially with coronavirus going on. I see it on refiances from friends already where they do not need to pay an apprasal or get one one done. How exactly do they perform a value on the home then? Are lenders just doing their own comparable market analysis? Reason i am asking is because I am in escrow right now with tenants who are super covid fearful. Trying to see how this whole process works and ask my lender if they can do an apprasil waiver for the property i am in  escrow. I am unsure the requirements are to be qualified to get such a waiver. Does anyone have experience in this field?