Quote:
Originally Posted by Halfcan
How are people waiving appraisals unless they are cash buyers?
FHA and VA buyers have mandatory inspections.
This is the kind of stuff that causes the housing market to crash. There has to be a check and balance on properties and loans. I guess people have forgotten the Obama years. The market was depressed by foreclosures and loans being very difficult to get.
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People are dropping $1+ million dollars cash all over Los Angeles, without inspections and without appraisals because the interest rates are so cheap that investors can put a couple hundred thousand into them and rent them out for $6k-8k per month all day long.