Adam Long – Don’t Skip the Home Inspection!

Don’t Skip the Home Inspection!

Commentary by Adam Long

As the housing market gets more and more competitive, some buyers are tempted to skip the home inspection to close faster and attempt to make themselves a more appealing candidate to the seller. With most buyers paying a premium due to high housing prices, taking on additional risk by waiving an inspection is a cause for concern. Skipping an inspection is never in the best interest of the buyer, but receiving one is a great way to protect your investment and understand the condition of the property being purchased.

Forgoing your inspection is risky and can lead to unexpected consequences. There could be a slew of problems, such as open circuits and improper ventilation. These issues may not even be known by the seller. Without a home inspection, it’s difficult to determine what needs to be fixed or replaced.

Owner Brad Lawler from HomeTeam Inspection Service of Louisville shares: “We recently heard from a buyer who was advised to skip the home inspection to close quickly on the home. When the buyer walked into their new home, they were met with serious electrical problems that will cost thousands of dollars to repair. It doesn’t have to be that way.” It’s better to spend the money upfront on an inspection than to find out the house requires extensive repairs after closing.

Aside from mitigating risks, there are additional benefits to receiving a home inspection. Even if there are no major issues with the house, the inspection report provides insight about safety hazards and home maintenance information. This knowledge is ideal for planning purposes, which can give you an idea about replacement timelines and budget. “For example, HomeTeam looks at the age of the HVAC system and advises on how long it will likely last. You don’t want to wait until something breaks to fix or replace it,” says Lawler.

A home inspection also gives more power to the buyer when negotiating with the seller. This allows them to point out items for the seller to repair or ask for a reduced price based on the findings of the inspection. An inspection can be leveraged in the home contingency, providing an out for the buyer if the house is in poor condition.

It’s also important to know that waiving the inspection contingency does not prevent you from scheduling a home inspection. It simply means you will not be able to use the inspection report to negotiate repairs or price.

Although home inspections aren’t legally required for a sale to go through, they are highly advised. The absence of one can lead to potential disasters. “At HomeTeam, our goal is to help real estate agents and buyers reach the closing table with the knowledge that they’re making an informed decision. You can’t do that if you skip the inspection,” warns Lawler.

Be proactive in protecting your investment. For more information about HomeTeam Inspection Service, visit hometeam.com. RE

Although home inspections aren’t legally required for a sale to go through, they are highly advised.

Adam Long is president of HomeTeam Inspection Service and has actively been involved in the real estate industry for over 20 years. For more information, visit www.hometeam.com.