Pre-Inspections - Is it a waste of money?

[Anonymous]

How many of you buyers have paid for pre-inspections? Basically how many people have paid upwards of $500 for a pre-home inspection without first securing a house under contract? What are your thoughts?

[Anonymous]

Depending on the house that can be the only way to be competitive without risking too much. We paid for multiple as we put in offers.

[Anonymous]

I walked away from a house based on a pre inspection (bad water drainage problem). I bought back during COVID and you had to waiver everything to get a house. I did 3 total (one someone else also did one but bid more, the second we didn't put an offer in, the third we got).

If everyone else is waiving inspections, you may need one.

[Anonymous]

We did but didn't have to, just didn't want to waste the money as DH has worked construction and is super handy so could pretty much spot (and did) any issues.

[Anonymous]

We did because no one was accepting any contingencies when we were buying. A few hundred is not that much when you have hundreds of thousands or millions on the line.

[Anonymous]

The market doesn't still demand that does it?

[Anonymous]

Anonymous wrote:We did because no one was accepting any contingencies when we were buying. A few hundred is not that much when you have hundreds of thousands or millions on the line.

Same. An offer with an inspection contingency would have lost. I didn’t see it as a big expense in the grand scheme. I wouldn’t have loved doing it over and over again but that didn’t end up happening.

[Anonymous]

Anonymous wrote:The market doesn't still demand that does it?

+1. We did a pre-inspection, but back in 2018 when it was much more of a seller's market. Everyone was waiving financing and inspections, so you had to pre-pay.

[Anonymous]

We paid for these when we were buying in 2019. It just let us know that there weren’t any major issues with the house so that we could write our offer.

[Anonymous]

Anonymous wrote:The market doesn't still demand that does it?

Varies widely depending upon the neighborhood. Properly priced SFH near Clarendon? Yes to pre-inspection.

[Anonymous]

It would depend on the house for me but if there’s no question that an offer without contingencies is stronger. If your other option is an offer without an inspection contingency, and you want the house and think you’re in a strong position to get it, pay for the pre-inspection. Sellers quite rightly assume some people see the inspection contingency as an all purpose escape hatch.

[Anonymous]

It’s not worth it until the inspection turns up some big red flag and you avoid buying a money pit. Then it’s worth it.

[Anonymous]

Yes it is. Do a inspection with contingency after an accepted contact.

[Anonymous]

Anonymous wrote:Yes it is. Do an inspection with contingency after an accepted contact.

And not have your offer accepted in a competitive situation.

[Anonymous]

Inspections are a waste of money. Learn some of the basics of what to look for yourself and you’re in far better shape. There are maybe 10 things that would sink a home purchase. You or the inspector can’t tell you if the A/C will fail 2 months after you close. If you can’t afford that sort of repair, buy a less expensive house.