Do you still need to get an appraisal when you are trying to assume a mortgage?

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Yes

Yup

My Bank just waived my need for appraisal, since their System indicated “you likely get a good deal”.

I had an Appraisal Gap Contingency in the Offer, for the case that the difference between asking and appraisal was to much for me.

The Banker told us that he can only tell us that the appraisal was waved the rest was him just making an assumption. My guess is that they have a algorithm like Zillow’s Zestimate and our offer was below what their system said it’s worth. If I was the one making the system I would build in a % below as well to make it safe.

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