The Drawbacks of Not Having a Home Inspection
When buying a house one of the common place activities is having a home inspection. The home inspection due diligence period allows a buyer to check up on the condition of the property they are purchasing.
In addition, the home inspection is very education, especially if you are a first-time homeowner. A great home inspector can not only point out significant and not so significant issues but also give a buyer lots of great information on how to maintain the home.
In strong seller’s markets it has become more common for buyers to waive a home inspection. Why is this happening you may wonder? Sometimes a house will have multiple offers on it. In order to make an offer more attractive to a seller, a buyer will forgo the inspection. This is really risky business!
There could be countless problems with the home. As a buyer, you are then stuck with all of these issues.
The home inspection contingency allows you to research and discover problems. If these problems are large enough you can then walk away from the deal.
By waiving a home inspection you are no longer afforded that luxury. Take some advice – don’t do it. Take a look at the article referenced above at The American Society of Home Inspectors for a detailed explanation.