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Would you ever waive a home inspection?

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  • Would you ever waive a home inspection?

    The housing market is obviously a seller's one right now, which is leading people to unfortunately waive home inspections with their offers. I hate that I even am asking this question, but I'm currently stuck bidding against these people.

    I am looking at homes in the 500-600k range that are generally built after 1995. To me it seems foolish to waive inspections, but wanted to see what you guys thought.

  • #2
    You can waive contingencies rather than wave a home inspection.

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    • #3
      It is a risk but to be competitive in this seller's market you may need to do it. Do you have a friend/acquaintance that knows real estate or is a contractor that could go through the house with you? That could serve as an unofficial inspection and give you some peace of mind.

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      • #4
        I agree with ENT Doc 100%. I'd never waive a home inspection.

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        • #5
          Waived it on our last purchase - no regrets. Cash purchase, no inspection, no appraisal, no contingencies....makes it easy for the seller.

          Why would we do this?
          1) Inspection reports we've gotten on previous houses have been mediocre, and the inspector has no liability if they miss something substantial. I don't need to pay someone $500 to tell me that the hot water tap is at 122F not the recommended 120F.

          2) I'm relatively handy and spent an hour with a flashlight during our viewing of the house looking for major issues. Didn't find anything.

          3) The home seemed to be well-cared for. Owners didn't seem to be the kind of people who'd be on the roof spray-painting shingles to make them look new.

          4) The risk of finding something substantial enough to derail the sale seemed very low (ie - I'd probably have been willing to spend another $40k to get the house, and if a house is standing, occupied, etc, how likely is it to need $40k of work?).


          That said, if you are less comfortable with the idea, a compromise is to say you'll limit objections to inspection findings to only high-dollar items (gives the seller assurance you aren't going to try to haggle with them over $100 to replace a drippy faucet) or safety items.

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          • #6
            There's lots of things you can buy and get away with without getting a professional opinion on the object's condition. A $500k+ house shouldn't be one of those things. An inspection is kind of like cheap insurance. Will it most likely work out if you don't get one? Probably but there are going to be a few houses that have a handful of very expensive problems that may not be very obvious to the average person.

            PS: Always get your own inspector and not the one your realtor recommends.

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            • #7
              Originally posted by dennis View Post
              It is a risk but to be competitive in this seller's market you may need to do it. Do you have a friend/acquaintance that knows real estate or is a contractor that could go through the house with you? That could serve as an unofficial inspection and give you some peace of mind.
              I’d second this, but I’d get an actual inspector. Pay them $500 for 45 min of their time. Only do for places that you have pre-screened and are very interested in. Assume the place has radon and obviously forgo that part of the inspection but have them look for major problems that are going to land you in hot water. No official write up from them - just good notes on the place.

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              • #8
                • Not recommended. If anything, a home warranty plan can be included and paid for by the buyer.
                https://www.marketwatch.com/story/am...20-01603396432
                No cost to the seller and no risk to the buyer on the major components. I would do as much of a self inspection as possible. When touring a house, most "look" only. Different if you run every faucet and test every socket and climb into the attic.

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                • #9
                  As a thought exercise, what sorts of things do you think an inspector might find?

                  If your answer is, "I don't know", then how do you know the inspector you hire will do a good job?

                  Is there a category of findings that would cause you to revise or rescind an offer on the house?

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                  • #10
                    Would never do that unless buying as a tear down. Don’t want to find out that there are foundation issues or a tree root running through the water pipe or something else major.

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                    • #11
                      Originally posted by awesomesauce View Post
                      As a thought exercise, what sorts of things do you think an inspector might find?

                      If your answer is, "I don't know", then how do you know the inspector you hire will do a good job?

                      Is there a category of findings that would cause you to revise or rescind an offer on the house?
                      Foundation, major plumbing, major electrical or a lot of little things that suggest poor upkeep.

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                      • #12
                        Originally posted by awesomesauce View Post
                        As a thought exercise, what sorts of things do you think an inspector might find?

                        If your answer is, "I don't know", then how do you know the inspector you hire will do a good job?

                        Is there a category of findings that would cause you to revise or rescind an offer on the house?
                        Foundation, roof, water issues are common big $$$ problems. If there have been renovations done they can likely tell you if they were done per code. This can also give you a better idea the likelihood of other problems you may not be able to see easy. A general inspection can give you an idea of what kind of deferred maintenance the previous owner left as well as a general condition of the house.

                        Perpetual water problems would be a deal killer for me.

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                        • #13
                          Originally posted by Tim View Post
                          • Not recommended. If anything, a home warranty plan can be included and paid for by the buyer.
                          https://www.marketwatch.com/story/am...20-01603396432
                          No cost to the seller and no risk to the buyer on the major components. I would do as much of a self inspection as possible. When touring a house, most "look" only. Different if you run every faucet and test every socket and climb into the attic.
                          When we bought our last home... we got an inspection. Nothing big came up. However, we used our home insurance over and over and over.
                          Got three new toilets, new dishwasher, new heat/air ducts and furnace, new garbage disposal, etc. Likely amounted to over $10K!
                          If you do go without inspection, get the warranty and see if they cover sewer/septic, roof, water damage, etc. Then after you buy, have those things inspected and make claim(s) if needed.

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                          • #14
                            Originally posted by Tim View Post
                            • Not recommended. If anything, a home warranty plan can be included and paid for by the buyer.
                            https://www.marketwatch.com/story/am...20-01603396432
                            No cost to the seller and no risk to the buyer on the major components. I would do as much of a self inspection as possible. When touring a house, most "look" only. Different if you run every faucet and test every socket and climb into the attic.
                            These warranty companies don't do an inspection before agreeing to cover your house?

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                            • #15
                              Once you find out what they do on inspections and are looking for, I'd waive it in a heartbeat and feel totally fine just eyeballing stuff myself. Nothing is going to be that shocking. I dont think 1995 is close to new and would expect things to be there that need addressing.

                              However, the point of these is so you dont over pay for something awful or catastrophic, or have some small bargaining power. Lets say you find some minor issues, joists that have been modified, shoddy gutter, other minor things...what are you going to do with that information? Are you going to ask for concessions or money off? Good luck, someone will pay for it and not care.

                              Thats simply the market we're in, so I dont see the big deal. Agree about home insurance and an inspection afterward if you feel like it. You're either taking the house as is, or you're not, thats just it.
                              Last edited by Zaphod; 05-29-2021, 03:02 PM.

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