Situation: 20% down, conventional buyers. SE Michigan. Good income, decent assets, zero current debt, great credit score. We were noticed by our broker that the lender has waived the appraisal due to our financial situation, value of the home, area of home, etc.
Question: this sounds like it’s great, and I agree, I think. Are there any strong downsides to an appraisal waiver? Any red flags that we are not seeing?