How do you feel waiving inspection contingency?

[Anonymous]

If the house was built in 60s-70s, is it a big risk to waive inspection contingency?
The realtor said we could not get accepted if we have any contingencies.

Have you encountered any problem or felt regret you waived it?
Based on my experience of buying townhouse and condo, home inspection did not find any big items like water damage ( under flooring) or structural integrity. Most items were minor. Don’t know if that’s the case in single houses.

[Anonymous]

I’m being told the same. It makes me feel sick. But it is what it is.

[Anonymous]

Can you do a pre offer inspection? Walk through the house with an inspector before you make your offer just to make sure if there are major issues you can find them? If you wave the inspection, there is the risk you can find a major problem later. It may not be common but there can be cracks in foundation, water issues in the basement or other issues. I still remember after the 2005-2008 real estate market frenzy people coming to dcum after the market turned complaining that they had bought at the top of the market with no inspection and now had found a cracked foundation, did not have money to fix it and could not sell

[Anonymous]

No way. We did an information only on an estate sale.

[Anonymous]

Do a pre-inspection if you can. Otherwise, how much cash do you have for potential big repairs?

[Anonymous]

Anonymous wrote:Can you do a pre offer inspection? Walk through the house with an inspector before you make your offer just to make sure if there are major issues you can find them? If you wave the inspection, there is the risk you can find a major problem later. It may not be common but there can be cracks in foundation, water issues in the basement or other issues. I still remember after the 2005-2008 real estate market frenzy people coming to dcum after the market turned complaining that they had bought at the top of the market with no inspection and now had found a cracked foundation, did not have money to fix it and could not sell

We put 5 offers and none got accepted. If we had hired inspector for all 5, we had spent over 1000 already. From my experience, inspector only can find things visible from appearance, but nothing underneath finishes. We did discover something like a ruined subfloor under tiles after we bought the townhouse, Which inspection did not find it.

[Anonymous]

We've had inspections on two properties we owned, both by "highly regarded" inspectors. Each had 1-2 huge whiffs on major issues that came to light within a few months of ownership. Inspectors don't have xray vision or predictive powers. And some good inspectors have a bad day and miss fairly noticeable things. Everybody buyer/new homeowner wants to wear a "good" inspection like a warm cloak...and it does feel great until water starts coming through your kitchen walls during a rainstorm.

Houses have expensive issues that inevitably arise, and you should plan to pay up while you own.

Anyway, when buying this time around and seeing that everybody was waiving inspections, we asked our realtor how much higher our offers would have to be to get one accepted with an inspection contingency. His answer: 10-20k at the pp we were looking at. We decided it wasn't worth it and started doing pre-inspections. It worked out fine.

[Anonymous]

We did a pre-inspection and that still makes me nervous. It's not the whole process where you get a report and such at the end. No way can they find everything with that quick pre-inspection.

[Anonymous]

Anonymous wrote:We did a pre-inspection and that still makes me nervous. It's not the whole process where you get a report and such at the end. No way can they find everything with that quick pre-inspection. [/quote

Did it cost less if no report?

[Anonymous]

Anonymous wrote:We've had inspections on two properties we owned, both by "highly regarded" inspectors. Each had 1-2 huge whiffs on major issues that came to light within a few months of ownership. Inspectors don't have xray vision or predictive powers. And some good inspectors have a bad day and miss fairly noticeable things. Everybody buyer/new homeowner wants to wear a "good" inspection like a warm cloak...and it does feel great until water starts coming through your kitchen walls during a rainstorm.

Houses have expensive issues that inevitably arise, and you should plan to pay up while you own.

Anyway, when buying this time around and seeing that everybody was waiving inspections, we asked our realtor how much higher our offers would have to be to get one accepted with an inspection contingency. His answer: 10-20k at the pp we were looking at. We decided it wasn't worth it and started doing pre-inspections. It worked out fine.

Could you recommend any good inspector(s)?

[Anonymous]

Do you like asbestos?

[Anonymous]

Anonymous wrote:

Anonymous wrote:We did a pre-inspection and that still makes me nervous. It's not the whole process where you get a report and such at the end. No way can they find everything with that quick pre-inspection. [/quote

Did it cost less if no report?

Yes, it cost around $700. Our real estate agent said in this seller's market no one was getting full inspections, no time. Sounded weird to me too

[Anonymous]

I had my current house inspected by a highly recommended inspector who teaches classes to train inspectors (or so I was told). I found the inspection to be pretty superficial, and the inspector definitely missed some big ticket issues. I was not impressed at all.

With that said, I'd still be hesitant to waive the inspection because, who knows, maybe the inspector will actually find something that's a big deal.

[Anonymous]

Anonymous wrote:I had my current house inspected by a highly recommended inspector who teaches classes to train inspectors (or so I was told). I found the inspection to be pretty superficial, and the inspector definitely missed some big ticket issues. I was not impressed at all.

With that said, I'd still be hesitant to waive the inspection because, who knows, maybe the inspector will actually find something that's a big deal.

What did they miss?

Which company so others can avoid them?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Can you do a pre offer inspection? Walk through the house with an inspector before you make your offer just to make sure if there are major issues you can find them? If you wave the inspection, there is the risk you can find a major problem later. It may not be common but there can be cracks in foundation, water issues in the basement or other issues. I still remember after the 2005-2008 real estate market frenzy people coming to dcum after the market turned complaining that they had bought at the top of the market with no inspection and now had found a cracked foundation, did not have money to fix it and could not sell

We put 5 offers and none got accepted. If we had hired inspector for all 5, we had spent over 1000 already. From my experience, inspector only can find things visible from appearance, but nothing underneath finishes. We did discover something like a ruined subfloor under tiles after we bought the townhouse, Which inspection did not find it.

So you made offers without even a pre inspection? I’m at about 1500 sent so far on these lost offers but I’m scared to skip the pre inspection even though I agree they’re useless.