Real estate can be complex. That means that every deal is different. In certain scenarios, or even certain markets, you might agree to go under contract and waive getting a home inspection. This is more common in “seller’s markets,” allowing buyers to bid more competitively.
Although this might help make the sale, most buyers are still anxious to learn as much as they can about the property. In this blog we’ll talk about what you can do in situations like this where you’re not getting a home inspection on your potential new home.
Call Someone Handy
Do you have an Uncle that was a roofer? Maybe you have a friend who does HVAC. Now’s the time to call for some help. Someone with experience can tag along with you during a walkthrough and help point out anything they catch along the way. They might notice things that you otherwise wouldn’t.
Calling in a trusted friend or relative could give some helpful (and free) insight.
Look Carefully at the Disclosure
The seller’s disclosure is an important document in any home purchase (and one that’s required in almost every state). It is especially important when you’re not doing a home inspection. A disclosure should indicate what, if anything, has gone wrong with the home and how it was fixed. It should also give you a timeline of these issues and their resolution. Otherwise, the seller could be liable for not advising the buyer of past or present defects before purchase.
Additionally, it’s helpful to look at when major appliances or components were last serviced or replaced (like HVAC units, hot water heaters, the roof, etc). This can provide further insight into the condition of the home and its systems.
See What Inspection Companies Might Provide
Some inspectors will walk through the property with you and point out any issues for a nominal fee. Generally, these walkthroughs don’t come with a report, and consist of a verbal review while on-site. The big advantage to this is that you get feedback from a certified home inspector. In many cases, you’re also paying less than you would for a full home inspection.
This strategy might be the best bang for your buck. You can get the expertise of a professional, and still stay in compliance with the seller’s agreement. Click here to find out more about our Walk and Talk services.
The Take Home
It’s always important to do your research and get as much information as you can when you’re buying a home. Going under contract while waiving the home inspection is no different. The strategies above are a great way to ensure best buying practices in the absence of a full home inspection. Want to learn more about inspections and home buying? Check out our blog for tons of great information!
By Chris Earley
