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I lost two house offers because I wouldn’t waive inspection and the other offer did. It’s sucks but I finally got a house, and I would have rathered the other house but I would never waive inspection. Unless you have very deep pockets this seems crazy to me.
Subject Expert
If a house is going to be renovated, then your contractors will inspect all the important things for you. Additionally, an experienced real estate investor can often ballpark estimates with their own eyes.
Many people who want a house in a specific school district or location will just skip the inspection and deal with any potential problems later. I’m not saying it’s suggested, but if you have a healthy budget for upgrades already, then speeding up the closing process can work fine.
Mentor
Like others have said the level of risk of waiving inspections is determined by the experience of the buyer. I wouldn’t recommend this to someone looking at their first home but someone with 10+ of experience can prob get away with this.