Inspections are a must when purchasing a house

    Inspections are a must when purchasing a house

    Nov 16, 2018

    When you’re trying to make your offer as attractive as possible, skipping the inspection may seem like a good idea.

    Here’s why it’s not:

    If you’re buying a home in a competitive market and your offers keep getting beat out, you may be tempted to resort to desperate measures. In addition to offering more than the asking price or a quick closing, some buyers agree to waive inspections.

    This is never a good idea.

    No matter how badly you want the property or how emotionally attached you are to it, you don’t want to buy a home without having it thoroughly inspected. Here are some alternative solutions to satisfy your need to inspect, while remaining competitive.

    Seller’s inspection

    Often, the seller will have the property inspected before listing. They do this so that they can either iron out any issues in advance of listing or so buyers know up front exactly what they’re getting. It protects the sellers from future negotiations and allows them to price the property correctly from the start.

    Move quickly

    Often there is a small window of time between when offers are due, and a deal starts to go forward. If the market moves fast and you need to get your offer in so quickly that there isn’t time to inspect, pre-schedule an inspection for a day or two out. If you work with a good local agent, they will have relationships with an inspector who will do that. Writing a one- or two-day inspection contingency into your offer gives the seller comfort that they won’t lose momentum if you walk away and You get peace of mind in the meantime.

    If you find yourself months into searching for homes, and you’re getting frustrated or discouraged, keep in mind the bigger picture. You’re purchasing the biggest asset of your life. Waiving an inspection can cost you a fortune. Markets change, and you don’t want to find yourself in a home you can’t afford or, much worse, can’t sell because of structural or engineering issues you missed by waiving inspections.