Updated over 4 years ago on . Most recent reply
rookie: Inspection contingency, help?!
Hi BP,
So my brother and I are buying our first home in Sacramento with intention of house hacking. We are speaking with the seller who wants to sell the house as-is, which I understand but the seller also wants us to waive inspection.
As a first time home buyer and someone who has spent months saving money for a down deposit, I am afraid of pulling out and loosing earnest money.
We do have a Pest report estimated repairs of $10,000. Seller offering $4k credit at closing and home renovated with a great deal.
Am I overreacting? Please any advice would help.
Most Popular Reply
It sounds like you're not working with an agent to help you buy your first property. Mistake numero uno. I'm confused how you got to the point of having a pest inspection and the seller wants you to waive inspections? Was this pest report disclosed by the seller then? It's in the best interest of the seller for you to get an inspection contrary to what he's saying. Otherwise, you the first time buyer are purchasing the property based solely on the sellers knowledge which can come back to bite him when you close and find out the termites ate through all the floor joists and the floors are on the verge of caving in and now he has a lawsuit from a sad first time buyer good luck in court with that one Mr seller. It sounds like he also doesn't have an agent so you guys are playing in a circus to "save money" but now here we are in desperation.
He wants you to buy as-is and then he wants you to waive your inspection. YOU DEFINITELY WANT TO GET AN INSPECTION. And you probably just want to walk at this point. One of the reasons he doesn't have an agent is because he's trying to pull the wool over someone's eyes like a lowly first time buyer. Lucky for you you're smarter than that and at least came on here.
Literally everyone of your problems could have been calmed by having an agent.