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Article #341: Buying a Home -- Is a Home Inspection a Good Idea?

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






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