Some purchases can be over-deliberated. We can waste valuable time weighing the pros and cons, consulting with others, and needlessly researching. While this may be true for purchases made in the grocery store or on Amazon, this is not the case when buying a home. Specifically, when putting an offer on a home, there are some steps that should not be rushed, like neglecting to have the prospective home inspected.
In today’s competitive housing market, home buyers want to do all they can to make their offer seem as attractive as possible. Some will even go as far as skipping the inspection — this is especially true for those who view a property, form an emotional attachment, and feel like they can’t go on without being able to call the place “home.” If you are considering doing this, we’re here to advise you against that. Below are some reasons why not to waive your inspection.
Not All Problems Are Visible
Imagine this: you’ve found the one. You’re sure of it. Your real estate agent just gave you the tour, and as you’re leaving the property and another couple is walking in to view “your home,” you feel the pressure and the window closing. You turn to your partner and say, “We have to have this house!” So you call the next day and put in an offer, skipping the home inspection.
Here’s the problem with this. Fast forward six months. You got the home! But it turns out that your dream home is having some heating issues. You didn’t notice it when you bought during the summer. But now that fall has arrived and winter is creeping in, it’s clear that something is wrong. You call your local HVAC contractor, and he tells you that unfortunately, the situation is about as bad as it can get. But he tries to offer some assurance by telling you that for a whopping $20,000, it can be replaced and fixed before winter arrives. Uh oh. This is something that could’ve easily been found by a licensed home inspector.
Here are some alternative solutions to avoid this problem:
If you are sold on a home, have it inspected before signing a contract. The worst case scenario is that you pay for this inspection, find out more than you need to know, and don’t end up purchasing the home. While you might lose a few hundred dollars, you’re much better off than buying a house with hidden, costly problems. If the home passes the inspection, you can then waive the inspection contingency.
Oftentimes before listing the home for sale, the seller will have the home inspected. This is done for the purpose of ironing out any potential problems in advance or to give buyers a direct and transparent listing. This type of inspection allows the seller to avoid future negotiations. The one downside to this, however, is that in most cases, the inspector is only liable to the party who requested the inspection, not the new owners.
Buying a new home is exciting. Don’t let this excitement cloud your judgment and skip your home inspection. If you want help finding your dream home, contact the experienced real estate agents at Morrison Home Team. Whether you are buying or selling a home, our team of Barrington real estate agents leverages their years of insight to offer invaluable guidance throughout the entire process. View our real estate listings here, check out our extensive guide to home buying, and contact us today with any questions — 847-448-1676.