For buyers, waiving the option to have a professional inspection contingent on their offer to purchase a home can have major repercussions in the long run. Without a licensed inspector viewing the property, it essentially means they are selling the home ‘as is’ and are not responsible for anything that is not immediately visible. While some states have disclosure laws that require a buyer to reveal any problems they are aware of, often sellers are unaware of potential looming problems. The buyer without an inspection loses the chance to have a professional overview of the home they are buying. Inspectors don’t just look at the home; they can provide an in-depth analysis that can spotlight not just current needed repairs but also things that may become a problem down the road. The roof might not need repair immediately but it makes a big difference to know if you will need to replace it within a year or two or not for much longer. Inspectors examine heating, cooling, electrical and plumbing systems for any signs of potential trouble.
The bottom line is that waiving the inspection contingency is rarely worth the risk, particularly because it doesn’t guarantee a price discount in a strong market. A home inspection provides an extra level of security and helps you plan for the future in your new home.
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