Bypassing a home inspection can be a risky proposition The highly competitive housing market is tempting buyers to either skip inspections or let sellers off the hook to fix problems if they’re discovered. That can prove to be costly, according to inspectors and real estate agents. By CHRIS BURRITT NW GUILFORD – Home inspector Jeremy Beck arrived at a house for sale and noticed the owner had put new shingles on the side of the roof visible from the street, but not on the back side. The half job didn’t scare off the potential buyers. “They just wanted somewhere to live,” said Beck, who owns Oak Ridgebased SpecPROS home inspections with his wife, Nicole. The shortage of housing over
the past two years has increased the willingness of buyers to take chances with potentially the biggest investments of their lives. In one of the riskiest moves, some buyers are opting to skip home inspections altogether, according to Realtors. Or when they pay for inspections, buyers are waiving contingency clauses, essentially relieving sellers of any financial obligation to fix or compensate them for repairs discovered during inspections. “It’s definitely risky for buyers, but
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Jeremy Beck, co-owner of Oak Ridge-based SpecPROS, inspects the plumbing under the sink of a home. they’re trying to make their offers more appealing in multi-offer situations,” said Betty Smith, a Realtor and president of Smith Marketing in Summerfield. As more people bypass inspections and waive contingency clauses, stories of regret are not uncommon. One real estate agent shared with Nicole Beck that a local woman skipped an inspection, and after buying the house, she discovered a leak under the kitchen sink. Even worse, sewage was leaking into the basement. The buyer “took that risk because she felt like she had to get a place to live,” Nicole said. Sellers who’ve lost out in previous bidding for houses may feel especially compelled to skip inspections or waive contingency clauses, according to Morgan Langohr, a real estate agent with Allen Tate in Oak Ridge. “It’s their way to get creative and get an edge in appealing to sellers,” she said.
Langohr and Smith said they urge all of their clients to pay for inspections, even if they decide they’re willing to share repair bills with sellers or let sellers off the hook entirely if problems are found. Smith said it’s a common discussion among buyers and their agents whether to skip inspections. A year and a half ago, she said, “I was doing inspections on every house. But as the supply got less and less and more and more people were looking to buy, it started getting crazy.” The emergence of another bargaining chip offered by buyers – non-refundable due diligence fees paid to sellers – has complicated the decision for buyers who find problems with inspections, according to Realtors. As an example, a buyer who has put down tens of thousands of dollars in due diligence fees may decide to
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