BuyingMoney

Home Buyers Take a Huge Risk By Waiving the Home Inspection

So you have officially decided to buy something – naturally, you want a home that looks as attractive as possible because you are making an offer the seller cannot refuse.

Whilst you are gushing at the beautiful patio and the gorgeous color of the bedroom, it is important that you do not forget about the home inspection!

A home inspection is something that too many home buyers choose to skip and more often than note, turns out not to be such a great idea after all. Especially if you are buying a home in a competitive market and your offers keep on being thrown out, you might think of resorting to desperate measures!

Along with raising your offer and doing a quick registration, skipping a home inspection is one of the risks some home buyers are willing to take to save money AND get the deal done!

Yet, the house may look fine from the outside; it’s making all the right noises (or lack of noises in some cases) and you are extremely impressed by how well it is maintained. There are, however, problems at times which go beyond the surface and these tend to be the ones causing the biggest problems. Remember that it is easy to dress up a problematic house!

A buyer might not be able to spot an asbestos problem or the mold that is growing out from behind the stove. No matter how desperate you are for the property, no house is worth these problems.

Imagine finding these problems a few months down the road and spending even more money to get it fixed. You are going to kick yourself for not paying the relatively small fee to have had the house inspected before you bought it!

Yes, it is frustrating to keep on looking for a home or prolonging the process, especially if you have been house hunting for a few months, but it is better to be safe than sorry!

Here’s what can be done in the following situations:

Pre-sale inspection

If you are really in love with the home, please have it inspected before making an offer.

The worst case scenario is that you’ll pay a few extra bucks for a house you might end up NOT buying, but have you thought of the upside that you will now have peace of mind when you do decide to make an offer?

Home seller inspection

Sometimes it happens that a home seller has the house inspected before listing it.

This is done so that any suspicions or problems are ironed out in advance. A home inspection gives the sellers time to sort out any type of trouble the new owners might have when they buy the house and it allows them to sell the house to owners with a clear mind.

And peace of mind that there won’t be any legal recourse in the near future!

Plus, it puts the interested home buyers at ease knowing that the house has been thoroughly inspected beforehand. Furthermore, the property can now be more accurately priced from the start, which further avoids any unnecessary price negotiations as the process carries on.

Something to think about though could be the fact that the home seller doesn’t want to share the home inspection report with the home buyers!

In the end, the only real problem which might occur is that the home inspector is liable only to the person who paid for the inspection, which would be the home seller. So, if the inspector missed something, the home buyer wouldn’t have any recourse.

In other words, it’s perhaps better to do one yourself as well!

Move quickly

Home sellers don’t want to lose their momentum with the marketing of their home, which is why you need to be careful of the small window in between the expiration date of the offers and when the deal starts going forward.

There might not be enough time for a home inspection, so work with a good local real estate agent who can help schedule a pre-inspection a day or two out. Writing this into your contract gives the seller peace of mind that they won’t lose momentum when you walk away.

Don’t get caught up in negotiations or the popular bidding war of buying a home: know what you want and know that you deserve to be comforted by the house that will become an investment to you!

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