I attended another home inspection this week (I don't recall ever missing one) and as always I am so glad that my clients did not decide to waive it completely. It is tough, almost impossible, to get an offer with home inspections contingencies accepted in a competitive market. Still, I do not recommend waiving them, except when you are a contractor or experienced investor.
Not including inspection contingencies in your offer does not mean you can't have any done but only that you - technically, per written agreement - do not have the right to negotiate repairs. But you can include an "as-is with inspections" addendum, and can still give your potential new home a once over. It's not a perfect solution (when representing buyers I prefer the option of negotiating repairs) but it is the best of both worlds: being more competitive while being able to protect your own interests, too.
I cannot disclose any of this week's findings, but I can give you a few more serious examples from the past 18 years:
*mold in the attic
*broken trusses
*chimney cap missing
*chimney mortar deteriorated
*chimney liner in disrepair
*birds nesting in chimney
*screws clogging a drain
*a fake sump pump (there was a hole in the ground but no discharge pipe to the exterior)
*fire hazards inside the electrical panel
*non-functioning appliances
*moisture inside the walls
*code violations
*windows that were not operational
* live wires with no apparent purpose dangling inside a wall
While some issues are noticeable (and I will point things out to you), many others are not that obvious or can only be detected by a professional inspector or test gadgets. And that is why you do not want to waive them, even if this means you will have to write a few offers before making the winning bid.
The inspection and inspection report is very much educational. It is for your benefit, to understand repairs that are needed and maintenance items that you'll need to pay attention to after the house becomes your home. Ongoing maintenance, and replacements/upgrades is part of home ownership, you should expect to have to deal with some things.
But if the inspector's list is a long one, much longer than we anticipated, or lists a number of safety hazards and costly repairs, then you still have the opportunity to walk away from this property and continue looking.
A good inspector will break things down for you and highlight the items that need immediate repair. You decide if you are willing and able to take it all on. The "as-is with inspection" addendum gives you the opportunity to decide. Let's not waive it.
Ready to house hunt? I am an ABR (Accredited Buyer's Representative) in Silver Spring, MD and beyond, and I'd love to guide you on this exciting journey!
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