These days many people are buying homes and waiving the home inspection - or at a minimum getting a walk-through inspection or brief pre-offer inspection - in order to make their offer more attractive. They are thinking that the market is so competitive that it is worth the risk just to be able to have more of a chance of being considered by the seller in these many multi-offer situations. And to some degree they are right - fewer contingencies can make your offer more attractive. That’s something to discuss with a realtor. Here, we’ll discuss the implications of waiving the inspection contingency, and what you can do if you already bought a home.
When you waive a home inspection contingency, you’re going to forego any financial recourse on any defects present in the home - you’ll be paying to fix those. But Home Inspections also pick up safety hazards, as well as identify maintenance items and future repair items so you can make the home safe, take care of it, and budget for the next things you’ll need to do on the home.
That’s where a post-purchase home inspection comes in. We’ve been doing many of them over the past few years, and we’re finding that our clients are appreciative of the opportunity to get a comprehensive understanding of the condition of their home. Every once in a while we find some significant things that are very frustrating for the buyer who’s already closed on the home, but mostly we’re identifying areas that can be improved to prevent injuries and hazards, repair items, and things to add to your budget when it comes time to replace them. We also spend a fair amount of time discussing aspects of the type of construction, plans our clients might have for renovation or expansion, and other aspects of the home.
The home purchase process is a big deal! It can be overwhelming and the heat of the real estate market can really affect how you proceed with home buying. Please understand that this article is in no way condoning the waiving of a Home Inspection. We’re NOT saying: don’t worry, you don’t need a home inspection contingency - what we ARE saying is: Get a home inspection, and if it has to be after you close, at least you’re getting one - and not missing out on it completely- so that you can identify health and safety hazards and plan for the future. Feel free to contact us and let us know if you have any questions. If you bought a home recently, or even if you've owned a home for some time, consider getting an inspection, we’re confident that you’ll benefit from the value a home inspection provides.