We Do Not Advise Buyers To Waive Inspections

Here’s why we advise against buyers waiving their home inspections.

If you are a homebuyer in today’s market, you already know things can be challenging. For many Buyers, especially for those who have been outbid in multiple-offer situations, there’s a drive inside that compels them to do whatever it takes to win the home. That drive is causing some Buyers to decide to waive a home inspection in order to appeal to a Seller’s desire for a quicker and easier closing process. However, we never recommend that buyers waive the inspection, and today we will discuss why.

“If you buy the home as-is, any potential problems will become your financial burden after the closing.”

The home you are buying is likely your largest asset, so why would you buy it without knowing what may or may not be wrong with it? Without having an inspection done, you will not know if the property has concerns with its foundation, moisture damage, termite damage, or even mold. We have seen significant repairs within each of these areas that can cost many thousands of dollars. If you buy the home as-is, these, and any other potential problems, will become your financial burden to bear after the closing.

Deciding to have a home inspection is always the decision of the homebuyer and several factors may make it a worthwhile conversation in this market. Though we will never recommend that you waive your right to have the home inspected, we will absolutely discuss the pros and cons to help you decide how you would like to proceed. If you do decide to waive the home inspection, we will ask you to sign a waiver that states you have decided to decline the home inspection against the Upstate Home Team’s advice. Without question, we will definitely still help you with your home purchase process; however, we want you to know that we do not encourage waiving inspections and taking on the liability of any needed repairs.

Now, if you are a Seller, you may recall that we addressed upcoming changes to the sales contract regarding the due diligence period in our last video (see our blog or youtube page for reference). Because the contract change will allow a Buyer to pay a termination fee and walk away from the deal at any point during that due diligence period, we are going to start recommending that Sellers have a "pre-inspection" done BEFORE their property goes live on the market. A pre-inspection will provide insight into what issues your home may have that could cause a potential Buyer to walk-away from the purchase. Armed with this information, we can form a game plan to address any questions or problems in advance of making the home available for sale. This process will allow for a higher probability of your property selling in the quickest amount of time and for the highest price the market will support.

If you have any questions or need any assistance with buying or selling a home, do not hesitate to give us a call or send us an email. We’re here to help you.