Updated over 1 year ago on . Most recent reply
Thoughts on Waiving Inspections?
Looking to purchase our first home... have been recommended to waive inspections if we're serious in having an offer accepted (finally)
My question: Would it make sense to waive inspection in this situation and have an experienced builder come out to look at the property at the next open house? Really don't want to get stuck with problems that I cant see with my naked eye for a first home.
Thank you in advance!
Most Popular Reply
If you are willing to gamble your earnest money, then that is fine.
Sellers get tired of minor things in the inspection report giving the buyer a chance to renegotiate the price down. So, waiving the inspection period, makes your offer stronger.
That said, I would still do an inspection. If you find a major flaw that will cost tens of thousands to fix, you want to know before you own it. It may be worth losing the earnest money to not buy a dog.
Sellers get tired of minor things in the inspection report giving the buyer a chance to renegotiate the price down. So, waiving the inspection period, makes your offer stronger.
That said, I would still do an inspection. If you find a major flaw that will cost tens of thousands to fix, you want to know before you own it. It may be worth losing the earnest money to not buy a dog.