I sold a house a wonderful couple about a year ago, and we played a dangerous game of waiving the home inspection when we made the offer. Usually I am the first critic when it comes to helping a client find a home. I like to do my own preliminary inspection, and before they even consider buying, I’ll let them know if there are any major problems with the house. Although I am never in the favor of taking big risks, sometimes it’s safe to say when a home inspection isn’t really needed. But don’t let yourself get easily fooled based on a ‘hunch’ by your realtor – it’s always best to make sure you put home inspection down as a condition when buying a house. A home inspection can save you thousands of dollars in repairs, and potentially save you from buying a home that’s a residential hazard! I wouldn’t trust the house, unless I’ve seen it for myself, but there have been some rare cases, when there are multiple offers on the table, and by waiving the inspection, I’ve given my client that ‘edge’ that helps them get the home they want. It’s rare, but it has happened, where I have felt that I can fairly tell my client that the inspection isn’t really needed, and they can safely make an offer.
It’s a HUGE risk… wanting to buy a home as is. I don’t usually allow my clients to waive the inspection, but when I do, it’s because I have given the house my own personal assessment, based on my years of experience, and paying attention to home inspectors who have evaluated all the houses I have sold in the past. I wouldn’t recommend that same gamble to anyone, because homes can be secretive about their shortcomings. A simple assessment based on your own survey can’t do justice to the work of a professional home inspector.
When I do approve that my client goes ahead with an offer without an inspection, I base it on a few important details. I look at the roof, the basement (for mold), and the furnace – but most importantly, I look at the seller and how they’ve kept the house. Usually you can tell when a house has been kept well, and if the big items are in good condition, you can rest assured that you won’t have to incur any major cost. I’ve noticed that homes which are fairly new (aged around 5-7 years) are safe to buy. Most of them aren’t due for any major repairs, and can be easily trusted when it comes to maintenance.
Having said that, would I recommend that anyone jumps into the purchase of a home without an inspection? Absolutely not. I can only trust my own eyes when it comes to making an assessment, and unless I’m standing next to you, I wouldn’t recommend you waive your inspection. It’s not worth the hassle and trouble of investing in a home that you know nearly nothing about.
A good friend of mine, who happens to be a home inspector once said to me, when you’re buying a home and you get it inspected, it’s like meeting someone you want to marry, and being able to get a complete background check on them. It’s a wonderful advantage to have. Even if you waived the inspection when you made the offer, you should still get it done, because it’ll help you get to know your home more closely, and gives you a chance to pick up on repairs and replacements in time.
If you’re planning on putting an offer in for a home, make sure you hire a good inspector, who will give you detailed insight on your investment. You can check the service providers on my website for a list of wonderful home inspectors who I know and trust. If you drop my name, they’ll give you a discount too!
Bill