loctastic t1_j5w4lns wrote on January 25, 2023 at 11:45 PM

Reply to comment by thefrozendivide in For anyone looking to buy a house in West Philly... by kingintheyunk

How do people even get insurance if they waive inspection?

Bumblebeee_tuna_ t1_j5w74tw wrote on January 26, 2023 at 12:03 AM

They go off the appraisal to make sure the value is right.

[deleted] t1_j5w5mcb wrote on January 25, 2023 at 11:52 PM

[removed]

atheken t1_j5y9yd5 wrote on January 26, 2023 at 12:03 PM

As far as I know, you can’t get a mortgage if you can’t get insurance.

The insurance company has a lot of data about geographic issues that could generate a claim (such as a pocket of housing built over a creek).

The OP story sounds scary, but they caught the issue, and there are so many different gates you have to go through when buying a house with a mortgage that I think these types of horror stories are the exception, not the rule.