I have never had a buyer decline getting a home inspection, even in the case of new construction and properties that are sold "as-is". There is simply too much a stake to find out AFTER you have bought the house that there are huge defects that you can't afford to deal with. Inspection contingencies are there to protect buyers and for the cost of about $300, you can save yourself a ton of money AND heartache! If you are lookingto buy a home, give me a call and I will explain and help you through the home inspection and contingency process.
Buyers Should Think Twice Before Declining a Home Inspection
Buying a home is probably one of the largest investments we make so why are some buyers taking risks when purchasing a home?
When there’s financing involved with the purchase of the home, there’s a cost to obtain a mortgage which Cash buyers don’t have to worry about.
Appraisal is necessary with financing but also an option for Cash buyers.
Some lenders require a new survey, some don’t, again this is an option given to Cash buyers as well.
Home Inspection is an option for both Cash as well as to buyers who are financing.
When I work with buyers, I have all these “optional” items listed and get their initials and signatures next to each item whether they accept or decline it in the case they forget.
I sold a home in June 2013 representing out of state buyers who were in the area in May 2013. I found a home in the neighborhood they were looking for, it was an REO/Bank Owned home being sold “As Is”. As I do for all my buyers, I did advise them to get a home inspection which they declined at the time and signed off on the addendum stating they declined a home inspection. They just moved into the home and discovered they needed a new A/C, emailed me to let me know it was my fault for not getting a home inspection. I did forward them the email communication along with the addendum showing they DECLINED an appraisal, home warranty, home inspection and a survey.
NO RESPONSE from them!
As Realtors®, we all have to cover our assets!