Seller wants me to waive inspection

[Gurjot Grewal]

I have a duplex I offered on. It went under contract twice with both buyers backing out due to inspections. The LA provided both inspection reports, and to my very untrained eye doesn't look like anything major. 

They will not accept my offer with inspection as they dont see a point of doing a 3rd inspection. But the way I make long distance offers is have my inspector and contractor walk it same day and talk over things that need to be done. Then get a quote from my contractor. 

Im thinking if I forward these reports to my contractor and get a very rough quote. Maybe I can negotiate a lower price and waive my inspection. Is this a bad idea? 

[Taylor L.]

IMO yes, waiving the inspection would be a bad idea. Sure, you have previous inspection reports but there's no guarantee that those reports are the whole truth and nothing but the truth. The fact that it's fallen out of contract twice due to what was found on inspection should be a sign that something is up and you need the inspection contingency as well.

It's tempting to waive it to try to get a deal, the first rule of investing is don't lose money. One of the key ways we protect ourselves from losing money is a contingency based on physical condition.