Inaccuracy in the inspection report
After the offer acceptance and before the Signature Deadline, the Initial Platform Fee will be refunded if there is any inaccuracy in the inspection report. In order to claim this refund, you must have an inspection report prepared by a state licensed home inspector and both you and the inspector must assign the copyright of the report to Faira without requiring any additional payment.
Low appraisal by lender
After offer acceptance and before the Closing Deadline, if you do not purchase the home due to the lender declining the loan because of a low appraisal, then Faira will refund the entire Faira Platform Fee, so long as:
a) you share the lender's appraisal with Faira and the sellers
b) the lender's appraisal is below the purchase price and as well as below the value mentioned on the Appraisal Guarantee.
The Appraisal Guarantee is included in the Transparency Report.