Can this be used to claim someone who is waved?
I believe so as long as the waived player's salary is under $8.4 million and is in the last year of the deal with no options. Otherwise, we'd need to wait until he cleared waivers and then sign him as a free agent to up to $8.4 million prorated for the rest of the season.
It may be worth getting the DPE just so we can offer more than the vet minimum to bought out players.