Is Waving Inspection Worth It?

June 28, 2024

Buying a home can be a daunting process, especially when the properties you're interested in receive multiple offers. You might wonder if waiving your inspection contingency will make your offer more attractive to sellers.

While this might seem tempting, it's often not advisable. Here’s why: A home inspection protects your financial interest in what is likely the largest purchase of your life. A house might look pristine on the surface, but only a professional inspection can reveal hidden problems. Inspections can uncover potentially hazardous issues such as faulty heating and air conditioning, structural problems, or bad wiring. These repairs can cost thousands of dollars down the line. Knowing about these issues upfront allows you to make an informed decision.

The inspection contingency lets you conduct thorough inspections and request necessary repairs. While sellers aren't obligated to accept your requests, you have the option to decide whether to proceed with the purchase based on the inspection results. Sometimes, inspections come back clean, giving you peace of mind that your potential dream home is in good shape. If you decide to waive the contingency, consider doing a "for informational purposes only" inspection. This means you can't hold the seller to any repairs, but you'll know if there are any issues upfront. While not always recommended, it can be a strategic move in competitive markets.

Bottom line: spending a few hundred dollars on a home inspection is worth it to understand the condition of the home you're about to purchase. For more information on the home buying process, reach out. I have a ton guides, videos and resources available at no cost or obligation, that are helpful to have before and during the home buying and selling process. Comment or DM and I will shoot you over a link to access these resources.