property inspection waiver
My mortgage lender sent us the below e-mail about waiving the inspection. I have NO concerns about the price we are paying for the house. (mature neighborhood with lots of comps and I did my homework). I obviously would like to save the money and am inclined to waive the inspection. Are there any angels I am missing? Insurance maybe? (although I have already secured insurance). Anything else?
You guys qualify for a “property inspection waiver” which means you don’t need an appraisal for your approval. The cost of the “PIW” is $75 versus $400 for the appraisal. I usually don’t get this option on a purchase transaction, but your file is strong. Let me know if you want exercise this option and I’ll cancel the appraisal for you and refund the $400 we’ve collected. It’ll speed up and simplify the process, but I’ll understand if you want to continue with the appraisal.