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?

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Russell BrazilBusiness Member

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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.

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Luka Milicevic
Real Estate Agent · Nashville, TN · Member since 2015 · 2k+ posts · 2k+ votes
8y
When ever an inspection is done-it looks as if the house is falling apart. (Including brand new homes.)
The only time I have ever paid for an inspection is for the very first house I ever bought-the one I live in.
The inspector pretty much recommended to burn the place down and start over. Lived there for 5 years now and haven't had a single issue with anything that he pointed out.
Do your own walk through inspection, I find it a waste of money to pay an inspector. If the property is in really bad shape, that's okay if you are paying the right price for the property.
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Bart H.
Dallas, TX · Member since 2016 · 1k+ posts · 745 votes
8y
Originally posted by @Alec McGinn:
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?
I think it comes down to how familiar you are with construction. If you are buying a retail move in ready house, I would get an inspector. IF you are familiar with construction, know the major things to look for and plan on doing rehab, AND are getting a screaming deal, well you might not really have a chance to hold things up with an inspection contingency.
But it really comes down to your experience, and your ability to absorb a major issue like needing a new roof, or AC unit etc.
We typically get them, there are sometimes things the inspector finds we missed. A couple of times we have run the inspector in as we are finalizing the contract terms and therefore are able to drop or dramatically lower the time for any inspection contingencies (option period in Texas). Its a bit of a risk in that you have spent the money on the inspector before the house is officially under contract.
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David Michael
Developer · Closter, NJ · Member since 2016 · 392 posts · 109 votes
8y
You only foreshore the inspection if your going to take down the house or know what to look for
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Brian Pfaehler
Investor · Trafalgar, IN · Member since 2016 · 95 posts · 58 votes
8y
In Indiana, a “home inspector” is licensed by having 40 hours of training and a GED. That’s it. I never get an inspection and I poke holes in a buyers inspection because many times the items they call out are incorrect, misleading and completely against code. Educate yourself before jumping in with two feet....but inspectors (at least here) are usually a joke.
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Robbie ReutzelBusiness Member
Real Estate Broker · Shirley, MA · Member since 2014 · 305 posts · 211 votes
8y
Yes, we do it all the time!
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Whit Bowersox
Hollywood, FL · Member since 2012 · 10 posts · 0 votes
8y
Its completely subjective. If you are not familiar with structural details or big ticket items (pool, roof condition, plumbing) I would say its worth it to have an inspection done.
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Derek Carroll
Syndicator and Fund Manager · Victor, NY · Member since 2012 · 760 posts · 345 votes
8y
I never get an inspection, but I do flips and go in with my crew to assess what’s needed. An inspector doesn’t add any value to me. If I was doing rentals and not expecting a lot of rehab I’d probably consider inspections. In the scenario for the OP where property has been redone and quality of work unknown I might have an inspection. Could give you negotiating leverage if issues come up.
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Brian Ploszay
Investor · Chicago, IL · Member since 2009 · 1k+ posts · 1k+ votes
8y
I do it all the time, but I know a lot about buildings. For the newer investor, always get it done.
If the building needs a significant rehab, then an inspector is not the best person for the job. A contractor should be used.
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Scott Steffek
Flipper/Rehabber · Crown Point, IN · Member since 2009 · 482 posts · 216 votes
8y
It looks like people covered just about everything. The only thing I have to add is, take inspections with a grain of salt. I had some clown that had 18 years experience doing inspections, look at a property for one of my investors. His report was 23 pages long! He pointed out ridiculous things like a small crack in the sidewalk, a hole no bigger than a pea in the siding, the screen door closed with too fast, said the garage door opener came down with too much force and it should be replaced ( I tested it and it was fine), and on and on and on. I laughed when I saw the report. So some of these guys will put anything down on the reports. They think that you'll feel like you got your moneys worth, if they put down every little thing they see. Remember, the house you're buying is used. Keep that in mind when looking at inspection reports!
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Frank S.
Specialist · Chicago, IL · Member since 2015 · 870 posts · 345 votes
8y
Originally posted by @Alec McGinn:
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?
If he is cool and you are cool, then no problem. Do it, t's cheap. I will waived it only to give me an edge on an offer, but it's a good way out of a deal.
The last property I bought ( only have two MF, btw) , I did without the inspection contingency, it was a short sale. The owner lived there a few years before and the work done looked clean. He was a flooring guy.
I check for copper, pvc, and conduit for electrical. Look at outlet spacing and details, like lights in closets or valves used on plumbing. Then, check the roof, windows, and envelop/frame. Assume a few gremlins along the way. Create a list of everything that needs to be fixed, everything, then put a price on it and add 30%.
The home inspections are too basic, they lack good information and cost analysis, anyway. I don't think they are worth the time, but that's me. I have some experience managing and working on large - larger than expected- renovations.
I don't think I will pay for one again.
Take care,
Frank
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Bart H.
Dallas, TX · Member since 2016 · 1k+ posts · 745 votes
8y
Originally posted by @Brandon M.:

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.
You know, I hadnt ever thought about asking my inspector if he could do an express version, ie just look at the main things, electrical, plumbing, roof, foundation, AC, water heater, skip the overall report, and just give me a verbal and maybe knock a few bucks off of his services.
I might ask. because honestly I am like others on this thread, I dont really want a 50 page report with 48 pages of disclosures. A couple of pictures of items I might try negotiating, and a half dozen or fewer bullet points of things that should be addressed.
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Tyler Jahnke
Rental Property Investor · Oakland, CA · Member since 2016 · 341 posts · 643 votes
8y
@Alec McGinn - Unless you are local and have experience inspecting property, I would personally 100% always get an inspection. It's affordable and can save you thousands down the road $$.
What if a major issue pops up 3 months from now? You'll be kicking yourself over a $400 inspection. Believe me, I learned the hard way.
And just because the "seller is a good blue collar family man" doesn't justify NOT getting an inspection.
Best of luck!!
-Tyler
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Dawn AnastasiPro Member
Rental Property Investor · Milwaukee, WI · Member since 2013 · 6k+ posts · 4k+ votes
8y
If I'm going to buy a house that needs a little work, I get an inspection. If I'm buying a house where I'm already going to replace most everything (roof, flooring, electrical, plumbing, etc.) then I skip it. For anyone buying out of state, I definitely recommend an inspection.
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Diana Duncan
Real Estate Investor · Miami / Fort Lauderdale, FL · Member since 2013 · 63 posts · 12 votes
8y
Originally posted by @Russell Brazil:

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.
LoL, I love this post! :)
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Josue Velney
Developer · Boston, MA · Member since 2016 · 175 posts · 155 votes
8y
To be competitive in this hot market sometimes you have no choice. Sometimes doing an inspection is a waste of money; especially if you know you are going to do a full rehab. Speed and flexibility is key in this business.
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Debbie W.Pro Member
Lindenhurst, NY · Member since 2017 · 75 posts · 35 votes
8y
My 2 cents: We had an inspector who noticed the addition over a garage was done wrong. Seller wouldn't budge on price so we walked. Same inspector looked at house we are in now. He missed so much! My electrician almost had a heart attack when he saw our electrical panel after we bought it. We are familiar with how to do most work ourselves but never knew the wiring entering the house couldn't be coiled the way it was. Huge hazard. Our seller was honest about everything ... she knew about. She never knew her Dad & friend didn't do things to code. We opened walls and found cut pipes and studs. We were gutting & rehabbing anyway but could have been electrocuted by box when we went to do work. I agree w plumber / electrician / roofer to do the inspection. THey are the biggies.
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