Can I ditch the home inspection when I buy a house?

The question:

I’ve been house hunting for months and finally found a great house, but I know there’s going to be a lot of interest. I know everyone says I need a home inspection, but I’m afraid I’ll lose the house if I put any conditions on the offer. Should I ditch the inspection?

The answer:

Finding the right approach to offer conditions, is hot button topic these days, especially in the Toronto market where multiple offers have become the norm. Sellers with multiple potential buyers will often look to offers with the minimum of conditions, and the home inspection clause is often one of the first to go.

 

My advice: Don’t succumb to temptation or pressure to ditch a home inspection. If a client wants to skip the inspection, I always outline the ramifications.

Savvy buyers do have several options to protect themselves while staying competitive in the marketplace. Let’s take a look at the most common scenarios and some options to better equip yourself for success:

Scenario 1: You are not in a multiple offer situation


This one’s simple: put in a home inspection clause. If you get any resistance from the seller, you can offer to tighten up the timeline for the home inspection as a negotiation chip (perhaps 2 business days instead of the standard 5).


Read more: http://www.theglobeandmail.com/life/home-and-garden/real-estate/can-i-ditch-the-home-inspection-when-i-buy-a-house/article10805485/

Comments:
David Brighton, Brighton Home Inspections on Apr 10, 2013 2:19 PM posted:
Emotions always run high when purchasing a home. Let's face it, its a very stressful time. It will be one of the biggest purchases you will ever make, and the last thing on earth you want to do is buy a money pit. For about the cost of 1/2 a percent of the home's total price, you should have it inspected, no matter what the pressure. If you have a question about what the an inspection will cover, please contact me at info@brightonhi.com

Post Your Comment:

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.