We have a question for you. Now that we have signed contracts and will soon be out of attorney review, we were wondering if we could save money and not do a home inspection. The house looks like it is in good shape so maybe we could use the $420.00 for other things. What do you think?
Of course, you can save money and not do a home inspection but potentially it could be a very expensive way to save money! Several years ago I was showing clients properties. I showed them a beautiful home built in the early 1900’s. The trim work and hardwood flooring were in pristine condition and the kitchen and bathrooms had been modernized. We knew from the seller’s disclosure that the house had “knob and tube” wiring when the sellers bought it and that they hired an electrician to completely re-wire the entire house. We then put an offer in, negotiated, went to contract and set up the home inspection. The inspection went well, only a few minor things with the exception of the “LIVE knob and tube” wiring in the attic. The sellers corrected the issue and we had our own electrician do an inspection as well. The moral of the story – If those buyers didn’t do an inspection they never would have known about that issue and who knows what may have happened. I know the house looks like it has been well taken care of but I don’t want you not to do an inspection to find out after settlement that there are issues. In addition to the inspector making sure everything is in working order and safe, he will give you pointers on how to maintain the home. I think the $420 is worth it for peace of mind but it is your decision.