No Home Inspection???

Today we are going to talk about home inspection and how important that condition, or lack thereof, is. Home inspection is a very important part of the process of buying a house. If you find that you're in multiple offer situations and the winning offers are coming in without any conditions, without a home inspection condition, you're going to start to think that that's what you're going to need to do as well.
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Maybe it is what you need to do in certain markets to be able to actually win the day and buy a house. But there are some risks associated with that, when you have not had a home inspection there are all kinds of things that you don't know that you don't know.
When a Realtor shows you a house, you are usually there for about 30 minutes, and a good deal of that time is spent assessing whether the house works for you. Certainly, when we are showing homes, we are looking for red flags, but our attention is divided between looking for red flags and helping you assess if the house even works for you.
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And in 30 minutes, you cannot see everything there is to see. As an example, you certainly do not get a chance to put a head up into the attic to see what might be going on there. So, again, you don't know what you don't know.
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Now, there are ways to still win the offer and have your inspection. And one of the best ways is to arrange to have an inspection prior to the offer. Let's say the offers have been set for a particular date, you love the house, and you know you're going to make a strong offer. It could well be worth it to bring in an inspector and have the house inspected before the offer date. The downside, of course, is that if you do not win it may feel like wasted money spent on the inspection.
But the risk and the dollar value compared to the price of the home you are buying and the price of the problem that you could be taking on may be very big. It is good to have some budget set aside so that you may have to have a few home inspections done prior to your offers.
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It is also important to note that if something is discovered during that home inspection, you might not want to offer on that property. It is good to do your due diligence up front. You should be able to go in with your head on your shoulders and make sure that everything is okay with the house or that you're comfortable with anything that's found.
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There is an alternate strategy that can work too. It is to have a home inspector lined up so that you know you can inspect the home on next day after the offer. Have them set aside some time for you until you find out if you win. That way you could put a short conditional period on the inspection and that will make the seller more comfortable. They won't be off the market for five business days while you get your inspection done. But it depends on what other offers come in. If there are other offers with no conditions at all, you still might not win with that.
All in all, inspection is a really important part of the process, and we hate to see people not having an inspection done at all.
Tracey Appleton, Broker
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Megan Bell, Broker
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