is it a good idea to wave inspection and appraisal

[Tom Hall]

In the process of buying home, the owner received very similar offer, around the same price range however the other offer waved inspection and appraisal. Now the listing agent called and asked if we could do the same, our offer, the listing agent said is slightly higher but they want us to wave inspection and appraisal and we have time till tomorrow. House is indeed in a good shape the basement is fully done with full bath. No cracks has been seen on the foundation from my visional observation.

How to protect myself on the contract? your advice is more needed then ever ..

[Bruce Woodruff]

This seller may be trying to hide something(s). You can waive a Home Inspection, but get one done anyway. You'll need to know what the exact condition of the house is. There will always be issues, I have never seen a house with no issues. And how do you waive the appraisal, are you putting down a  lot of cash?

Was the basement done originally? Was it done with a permit? Legal egress? You seeing no cracks means zero. Are you a foundation expert? Is it raised or slab? What condition is the sewer main line in? How many Amps is the main panel? Did you look in the attic or foundation to check structural? All windows and doors work well and are in square? How old is the roof? Any water issues with the areas surrounding the house? Do all the appliances work as they should?