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Home inspections – should every home buyer get one?

Categories: Buyer Posted on October 25th, 2009

You’ve heard it before, I’m sure.  Most real estate brokers will advise you to get a home inspection during your inspection period.  On any residential property that you place an offer on I would have to agree, however there are a few exceptions. Sometimes if you want a close quickly on a property that you feel comfortable with, you may waive the inspection.  For example, if you’re someone that has particular knowledge and expertise you may decide that inspections are not needed.  Or maybe you are trying to close on a bank owned or short sale property and it is being offered “AS-IS” and you would rather save your money to do the repairs rather than identify them.Ahhh more paperwork

Oftentimes a broker will ask you to sign a document that you’ve waived the inspection on a particular residential property that you have decided to purchase without an inspection.  If you’ve decided to not do the inspection go ahead with the purchase I would say, “fine, not a problem, sign this waiver”.  But just remember if that’s a course of action you choose to take, you just have to deal with issues after the sale.

That’s often the case anyway even when you do get an inspection. I can’t tell you how many times an inspection has been ordered and many things were found and placed on a report. The buyer went ahead with the purchase anyway and maybe asked for a couple of things to be fixed in escrow. Most of things were small items and were fixed after the close of escrow.  Now you might ask yourself, “what’s the point in getting inspection?”  Well, real estate professionals like inspections more than anyone because it helps protect against liability issues.  I agree, but if somebody does not want to do an inspection decides to waive the inspection that’s fine too, sign this waiver.

Most inspections cost somewhere between $250 and $350. If someone is on the fence whether they want to do the inspection or not I will tend to say, “go for it. Having a nice little report your hand is at least some knowledge that will give you some peace of mind during the course of your purchase.”  When you’re in the Prescott Arizona area let me know if you want to find out about a few good inspectors and I’ll be happy to share what I know.

Thanks for reading and best of luck with your real estate search.

Photo Credit:  RedJar

Posted by Scott Baxter //

This entry was posted on Sunday, October 25th, 2009 at 4:26 pm and is filed under Buyer. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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