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Real Estate Glossary

What is Waiver?

A waiver is a legally binding document that is used to give up a right or to relieve someone from a responsibility. In the context of real estate, a waiver might be used to give up the right to a refund or to release a party from a certain condition or term of a contract. For example, a home inspector might be required to sign a waiver releasing the seller from any responsibility for defects found during the inspection.