To Waive or Not to Waive your Home Inspection...

Updated: Sep 3, 2021

That is the question.

Let me start off by saying there are always at least two ways to look at things. Should I waive my home inspection in order to “win” the property and have my offer accepted? Unless you are a real estate investor or a home inspector, we would say NO... especially in this current market

Buyers are already paying a premium for homes at the moment. The potential to get in over their heads is a strong possibility. It is very easy to get caught up in a competitive housing market and want to “win” over other buyers. You are not only purchasing an investment for your future, you are also obtaining an asset that you could potentially pass on to someone you love. Do not get caught up in a bidding war. It is crucial that you make a well-informed decision when selecting your future home.

Our advice at LXL would be to NEVER waive a home inspection. Our main reason why? Because participating in a home inspection is a perfect opportunity to learn:

1. Home inspections are performed to teach buyers about the home they are looking to purchase. You will learn where important mechanisms of the home are located and how they operate. A perfect example would be the main water valve shut off location. Imagine you might have a major leak or water pipe burst, it would become imperative to know where and how to shut off the water coming into the house.

2. Home Inspectors will coach you about ongoing maintenance for your property. Their advice could be as simple as adding extensions to your gutters to keep water away from your foundation. It might also include learning how to recognize pest damage or how to spot a potential mold issue.

3. Most importantly, your inspection is the perfect opportunity to determine if this particular home is really a right fit for your needs. After spending a couple of hours in the house during the inspection, you will ultimately know whether or not this home is really right for you. In this fast-moving market, we believe buyers are not given sufficient time to really get to know the property. The buying process now seems to involve a quick walk through at an open house followed with an aggressive offer to purchase. The quick turnaround leaves an opportunity for small details to go unnoticed or overlooked.

These are a few reasons why we encourage our clients to never waive a home inspection as part of an offer to purchase. It’s very easy to get caught up in the excitement and competitiveness of the market. We want you to stop, take a breath and remind yourself that the offer process is not a competition. It is a financial decision. For most people, buying a home will be the largest financial decision made during their lifetime. We do NOT take this decision process lightly. We want you to make a well-informed and sound decision based on facts. You have worked hard to get to this point; we want you to make a rock-solid decision for your future!

Never waive a home inspection!

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