| To avoid "buying a pig in a poke," buyers have long | | | | uncovered. Should serious problems be discovered, |
| demanded the closing on a home purchase be | | | | however, the seller is bound to know the deal will be |
| contingent upon a satisfactory inspection by a home | | | | in jeopardy. For that reason, even an "informational" |
| inspection firm. In many parts of our country, we're | | | | home inspection won't look as good to her as a |
| now experiencing a strong sellers' real estate market | | | | contract with no requirement for a home inspection. |
| and sellers often receive more than one purchase | | | | Another option you might consider in lieu of a home |
| offer on the same day for their home. In this | | | | inspection is a sub rosa inspection. Instead of using |
| environment, buyers are rethinking the home | | | | James Bond for spying, you could ask a friend |
| inspection requirement. Is this a good idea? | | | | working in the construction or engineering field to |
| To Inspect or Not To Inspect | | | | walk through the house with you. The goal, of |
| Clearly, if a seller got two offers and one requires a | | | | course, is to look for any glaring "red flags" that are |
| home inspection be done, most sellers will choose the | | | | deal killers. |
| non-inspection offer with all other things being equal. | | | | If your friend doesn't see anything disturbing, you |
| So, a home inspection requirement can put you at a | | | | can then write a clean contract offer without |
| competitive disadvantage. Still, are you willing to risk | | | | contingencies. Sellers love no contingency sales. The |
| purchasing a home that has some fundamental, | | | | chances are good that you'll get the home you want, |
| expensive problems? What if you purchase the home | | | | but still have a some assurance there isn't anything |
| and subsequently learn plumbing under the floors | | | | seriously wrong with the property. |
| must replaced? What if the repair costs $10,0000? | | | | There is no one right answer when it comes to |
| One option may be to include a provision in your | | | | deciding on home inspections. Each buyer has to ask |
| purchase offer that provides for a home inspection | | | | himself how much risk he is willing to take. If you are |
| done for informational purposes only. That way, | | | | the only party making an offer, demand an |
| settlement under your offer is not conditioned upon | | | | inspection. If you are one of many potential buyers, |
| the inspection. It would not provide you with the | | | | well, you are going to have determine your comfort |
| option of amending the contract to have the seller | | | | level. Others can provide information, but the decision |
| make repairs, nor would it provide a way for you to | | | | is yours. |
| void the contract should serious problems be | | | | |