Family can't move into house they bought

[Halfcan]

Originally Posted by sedated

Hoping a bubble bursts might be too much, but I've bid on 2 houses recently - 25% over asking - and lost because someone else did the same while waiving inspection and appraisal. Is it really too much to ask to not have to blindly throw a ton of cash at someone to get a house? Apparently not because in both cases there were over 10 offers within 24 hours.

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.