Would you ever buy a property without an inspection?

Rochester, MN · Member since 2018 · 79 posts · 36 votes

I’m about to purchase a property where everything has been replaced in the last 4 yrs (roof, furnace, AC, siding, windows, kitchen, floors, plumbing, ect.) the previous owner did all the work himself since he is a carpenter. I know an inspection is always the smart thing to do, but I am debating on foregoing the inspection so that the deal can get done. I told the seller I want an inspection and he is totally cool with it and does not believe anything is wrong with the place since it is so new. What are your thoughts?

1 Reply

294 views

Most Popular Reply

Russell BrazilBusiness Member

Moderator

Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes

My branch manager last week said something interesting. He has gone to over 4,000 inspections in his career. And not a single time did an inspector find anything of signifigance that everyone else involved couldnt clearly see with their own eyes.

You can either clearly see the problem....or you cant, and if you cant see it, its not like the inspector has xray vision.

[email protected]301-893-4635 Podcast Guest on Show #192

District Invest Group545 Reviews

Website View Page

26 Reply

See this reply in the discussion

93 Replies

Jump to latestLatest

Sort by

Steve S.
Investor · River City, Manitoba · Member since 2017 · 162 posts · 193 votes
8y
@Alec McGinn
From reading the posts I think there's two options. If you're buying hoping for turnkey an inspection can be very helpful to know what costs you can expect.
If you're buying and planning to renovate or if you buying "off market" you already are assuming there's work needed to be done and will price it in accordingly.
This is my view point. A home inspection may cost approx. $500. Let's say you buy a house for 100K . That's less than 1% of the total cost! If you're okay tipping 10% or more for a meal at a restaurant why would you NOT spend even 1% to have another set of eyes look into your business to see if it will be profitable?
In my last property I purchased this is the range of issues I found.
1) The shower & tub faucet the water was too hot, (the current tenant has 2 kids and this could result in a burn!)
2) The kitchen sink was vented improperly
3) There are no working smoke detectors
4) No GFCI's installed in the bathroom
5) water lines in the bathroom sink are switched.. and on and on and on..
The point being some of the issues are minor. Others are safety hazards. As a landlord your MAIN job is to provide safe housing for someone. So while it's good to know about all the structural issues the property may have we must also not forget to look for health and safety issues.
What if someone in one of your properties got really sick due to mold or was hurt because of another issue in the property. Stating that you are unaware of the issue is simply confirming negligence and due diligence on your part. If that ever goes to court you are going to WISH you had paid the $500 or even $1000 to have someone else put it down on paper what was and wasn't present at the time of purchase.
1 Reply
Dené Sellers
Real Estate Agent · Oceanside, CA · Member since 2016 · 20 posts · 2 votes
8y
Just thought I would jump in- Now rather than use a general home inspector I line up specific inspectors for each part of the property. Roofer, plumber, electrician, etc. While I find home inspectors very valuable, I also like specialist it might still be $500 bucks but at least your getting the person that handles that aspect of the home specifically.
0 Reply
John W.
Rental Property Investor · Buffalo, NY · Member since 2017 · 257 posts · 130 votes
8y
If you know what youre looking at and are as thorough as an inspector is, then you dont need one and can do your own. Ive only had one inspection in 10 or so properties and I regret paying for that. But you do need to be familiar with all aspects of construction to forego that. Or you can pay your buddy to go through with you.
0 Reply
Ron Gallagher
Investor · Washington, DC · Member since 2017 · 198 posts · 323 votes
8y
Originally posted by @Jay Hinrichs:

This made me laugh... it would make the bidet attachment potentially very painful.
1 Reply
Account Closed
Canton, OH · Member since 2018 · 118 posts · 63 votes
8y
Since we purchase tax foreclosures, we almost never have the privilege of an inspection. One of the homes that we couldn't inspect resulted in an $8,000 septic system. An inspection can be done in just a few days, but I'd rather spend $500 and delay two days than pay $8,000 because you took a chance. Better safe than sorry.
Just my thoughts, good luck!
0 Reply
Zamir Kazi
Real Estate Investor/Syndicator · Orlando, FL · Member since 2014 · 109 posts · 22 votes
8y
I've bought several properties and most of them I have done inspections on. With that being said no matter what the inspection turned up I've always bought most of the properties more often then not I use them as a negotiating tool.
On the properties I didn't do an inspection on, I already knew it needed major work and budgeted accordingly.
0 Reply
Brandon M.
Agent / Investor · Clearwater, FL · Member since 2014 · 573 posts · 281 votes
8y
If you haven't already you need to befriend an inspector who is willing to do a quick walk-through and just point out verbally any issues they see. I have one I can pay $75-100 for 15-20 minutes of his time, and he is willing to do such a price because I don't need photos or the 50 page report he provides. I mainly pay him as a second set of eyes and to crawl in any attics or crawl spaces (not common here) because those are two places I have no interest in going.
If you have used an inspector multiple times ask them if they are willing to do such a thing. I meet him there so he can just tell me in person, and I let him do it on his own timing so he can fit it into his schedule.
Now I use this guy for any MLS-listed properties when I represent a buyer so he does get a fair share of regular business from me.
Just another thought.
0 Reply
Layne Meltzer
Investor · Nashville, TN · Member since 2016 · 7 posts · 7 votes
8y
The house I am currently closing on needed the entire roof replaced. Shingles and decking boards.. if it wasn’t for my inspector almost falling through into the attic space I would have never known the decking boards were the old-school, super thin decking boards. Spent $500 for the inspection and saved myself $6,000 that the seller paid to fix, contingent upon buying the property. Long story short, inspections are well worth it IF you get a quality company that has a team that understands everything from electrical to structure.
0 Reply
Elvis Vasquez
Accountant · Miami, FL · Member since 2017 · 144 posts · 54 votes
8y
people do this all the time with Tax-deed sales.
1 Reply
William Avery
Investor · Austin, TX · Member since 2013 · 49 posts · 17 votes
8y
Get the inspection. With that said, I have bought most of mine without an inspection. But, since I do my own rehabs I have learned what to look for. Inspectors not only find issues that anyone can see, they are also familiar with local codes. If you have never had an inspection before then be warned, there will be pages and pages of issues. Most of these will be minor or throwaway items. Things to worry about are hidden things like under slab broken sewer lines, broken rafters, too many layers of roofing, etc. Don't look at the inspection as an expense, look at it as a bargaining tool and as a to-do list. Best of luck to you.
0 Reply
Vaughn Smith
Investor · NJ · Member since 2017 · 786 posts · 396 votes
8y
@Alec McGinn You can buy a house without an inspection but its for seasoned investors with a strong team and a proven track record of reno/rehab and relatively deep pockets.
2 Reply
Paul Dolan
Real Estate Agent · Youngstown, NY · Member since 2017 · 14 posts · 2 votes
8y
I always recommend against waiving the property inspection contingency but it still happens. It does make for a stronger offer as the seller won't have to waste time fixing double taps in the electrical box or the like but it does expose you as the buyer to the risk of missing something and ending up with a problem property not to mention losing the opportunity to negotiate based on the results of the property inspection. If you're buying a cheap property and you walk through with your contractor or what have you and are willing to accept the risk that's up to you. I would always recommend you get an inspection as once you waive it you waive it and you can always ask for credits or repairs if problems are found.
0 Reply
Christen G.
Rental Property Investor · Seattle, WA · Member since 2017 · 384 posts · 249 votes
8y
Can’t put a price on piece of mind. If you’re worried about saving $350-650 on inspection maybe the place isn’t for you or the timing isn’t right.
0 Reply
Vic Iyer
Fort Lauderdale, FL · Member since 2018 · 97 posts · 48 votes
8y
Answer is "Yes". I have bought "Occupied" homes that cannot be inspected. This is not for everyone! I am a professional investor with over 10 years of experience and know how to look around.
0 Reply
Vic Iyer
Fort Lauderdale, FL · Member since 2018 · 97 posts · 48 votes
8y
I have also bought homes from banks "waiving the inspeciton contingency" but really doing the inspection the moment the offer is approved but before executed!
0 Reply
Tony Mai
Rental Property Investor · Los Angeles, CA · Member since 2016 · 137 posts · 80 votes
8y
Always get an inspection. Even cash offers have an inspection... unless you wave it of course but ... that’s up to you.
0 Reply
Fred Heller
Real Estate Agent/Property Management · Houston, TX · Member since 2014 · 1k+ posts · 827 votes
8y
I would be wary of buying from DIY sellers. The first house I ever bought as my personal residence was in Prairie Village, KS, in suburban KC.

The seller was "handy" and did all the work on the house himself. It looked good. But this wasn't up to code and that wasn't up to code. When my new washer and dryer were delivered, they would not set up the dryer because the dryer vent was plastic and not metal.

The house had a completely finished basement with drywall and carpet and a wet bar. It looked great. But he had covered the basement ceiling with drywall instead of removable tiles. Guess where all the plumbing and the electrical and the ductwork was? Behind that drywall.
The beauty of having a basement is that any work on the plumbing, electrical, or ductwork is a lot cheaper because of easy access to those systems. But not in my house.

Anyway, it was a learning experience. Those are definitely some issues I would watch out for in the future.
0 Reply
Zachary LaJoye
Rental Property Investor · Cincinnati, OH · Member since 2017 · 58 posts · 48 votes
8y
The fact that you’re on the fence to the point that you’re asking strangers (albeit knowledgeable strangers) for their opinion tells me you might sleep better at night just getting the inspection. Trust but verify! Congrats on the pending deal!
0 Reply
Tim Upton
Contractor · Portsmouth, NH · Member since 2017 · 9 posts · 2 votes
8y
I’m a contractor but for me it’s a time thing. $500 is short money to pay an inspector to go spend a day looking at my property and then prepping a report. Albeit I believe the value add to be small since I generally have a good eye for issues, it is a risk control measure I’m willing to spend on. In certain cases it can be a leverage tool to negotiate the seller down as well. That being said, I have and will again waive inspections to get a deal done. It’s worth noting I’m generally looking at properties that I plan on doing extensive work to so if there’s no pest damage or structural issues then I’m good. I imagine it’s a different story if you’re buying turnkey and don’t have a healthy rehab budget... Good luck!
0 Reply
Angela Przulj
Vendor · Melbourne, Victoria · Member since 2016 · 56 posts · 19 votes
8y
Inspection is necessary regardless what you know. We fell into a trap where even whit inspectors going to the properties (there were few there) once it closed we found that lots of things were not there at all So my advice, do inspection
0 Reply
Ian WalshBusiness Member
Lender · Philadelphia, PA · Member since 2016 · 2k+ posts · 1k+ votes
8y
We do it all of the time.
0 Reply
Matt Sumsion
Provo, UT · Member since 2017 · 27 posts · 5 votes
8y
Often times the seller doesn’t have the knowledge a professional inspector has when it comes to what kind of condition a property is in. Sellers tend to be optimistic to help get the home sold. Even if they disclose everything they know it doesn’t mean there’s not something wrong. Even on new builds I know of meth tests being done and the results coming back positive because subs were cooking meth while the home was being built. I’d pay the extra to be covered. Especially if it’s not going to kill your deal.
0 Reply
Mike Parelli
Real Estate Broker · Greenwich, CT · Member since 2015 · 65 posts · 28 votes
8y
I would always recommend doing an inspection. Even if it isn’t a contingency. It’s a great track record of the properties health, good or bad.
0 Reply
Thomas Richardson
Greenfield, MA · Member since 2018 · 14 posts · 4 votes
8y
I have only bought two properties without but both were foreclosure and I knew were going to need a lot of work and anything I found the bank wouldn’t really care about anyways. If you have an eye for this type of stuff you should be able to pick up the basics on what work you will need. If not you may want to get it inspected just so you know what your getting yourself into.
0 Reply
Izabella W.
Chicago, IL · Member since 2016 · 30 posts · 17 votes
8y
I would not do a typical inspection but I would pay a trusted electrician to inspect the wiring and a trusted plumber to inspect the plumbing, especially since the owner did all the work himself. Just because he is a carpenter doesn't mean you would trust him to do any work in your home, you don't know if he does quality work. At the same time, like someone else above mentioned inspectors do not have x-ray vision and a lot of times you can download an inspection sheet and do the inspection yourself. A plumber can go in with a camera and make sure the plumbing is ok and an electrician can make sure the wires are connected properly. It will probably cost you the same as paying an inspector that can see what you can see.
1 Reply

Join the conversationCreate a free account to reply, vote on answers and follow this thread.