According to the Home Inspection team in Gig Harbor, there is intense competition in today's hot housing market. About two-thirds of all buyers are in a bidding war, and with for-sale listings in such short supply, many are willing to go to any length to win a house.
One of those rest stops? That would be the inspection plan.
That's right: Buyers frequently waive the Home Inspection to impress sellers.
While skipping the inspection may help you win a bidding war, it also comes with some significant (and often costly) risks to consider.
Are you considering your Home Inspection to get a better deal? Here are four possible risk ideas from the House Inspection crew in Gig Harbor to consider before proceeding.
1. There may be unknown safety risks.
Home Inspections inspectors examine your property from every angle. Home Inspections inspectors inspect the structure, systems, materials, and other aspects to ensure that it is safe and hazard-free for your family. They look for mold, pests, and asbestos, and they can also assist you in identifying lead-based paint and other potential health hazards.
Without their assistance, are you willing to waive your Home Inspection? You may unintentionally find yourself in an unhealthy or dangerous living situation.
2. You will have less negotiating power.
A Home Inspection report is an excellent bargaining tool. If the inspection reveals that repairs are required, you can use it to negotiate a lower price, obtain closing credits from the sellers, or even request that the seller perform the repairs themselves. These options from Home Inspections imply a better-maintained home and more value for your money.
3. You may have to make costly repairs in the future.
If no Home Inspector is looking for defects and repairs, you will be on your own to discover them — and it may be much sooner than you'd like. What if you move in only to know a plumbing leak two months later? If you waive your Home Inspection, you should have a sizable emergency fund if something goes wrong.
4. You won't be as knowledgeable about the house and the upkeep it needs.
The conditions of the house, systems and components must evaluate by your Home Inspection inspectors. Setting up a maintenance schedule and gauging expectations can benefit from this, said the House Inspection team. For instance, they may find that the roof is 20 years old and only has a few more years before it needs to replace. With this knowledge, you'd be better prepared to monitor the condition of your roof (and save up for that replacement).
The bottom line on home inspection waivers
Home inspections are necessary, so think twice before deciding to skip one. Inspection skipping isn't the only way to get a leg up on the competition. Getting pre-approved can also help. Learn more about getting approved by the Home Inspection team in Gig Harbor about how to do it.