Yes! We’ve all seen the headlines and read stories about buyers skipping inspections to win bidding wars. Competition can make us all crazy. But that’s just what it is to skip an inspection. Crazy.
Still, what if you’re sure this is the property you just can’t live without? And there are lots of other people who seem to feel the same way?
Good news! You can inspect the property before submitting an offer, potentially making your bid even more competitive—because it comes without an inspection contingency. Some sellers even prefer buyers who have pre-inspected (versus waiving an inspection all together). It shows they are vested in the property and reduces the potential for misunderstandings.
Yes, pre-offer inspection costs can add up. But in today’s competitive market, that can be the cost of securing your dream home while minimizing the huge risk of foregoing an inspection altogether.
Rule #1
Resist the urge to skip an inspection!
I’ve counseled buyers and sellers through more than 400 inspections. I can tell you, with absolute certainty, that you will not know this is the home of your dreams without an inspection. Nor will you have a good idea of future maintenance and repair costs.
Rule #2
Do not rely on someone else’s inspection.
Of course, most people are honest. And just because the inspection was done a few years ago doesn’t mean the facts and findings aren’t still accurate. Right? Wrong!
If you’re already a homeowner, you know how quickly problems can arise. Yesterday’s perfect HVAC system can be today’s no-AC nightmare. A property with no history of pests can have a sudden infestation. A hairline foundation crack can turn into a substantial structural issue.
Bottom line: Always hire your own inspector before moving forward with a purchase.
Rule #3
Attend the inspection yourself.
Thorough inspections take time and can be expensive (though not compared to your investment in the home itself). Maybe you’re thinking that if you hire a reputable inspector, you don’t need to tag along. You can just read the report. No!
An inspection is a great learning experience. You’ll get a real, hands-on education on how to care for your new home.
