Would you waive a home inspection?

[Anonymous]

Anonymous wrote:Waiving these are a sign of Bubble 2.0.

Of course all the DC boosters will declare that now it's different, that DC is such a great place to live and that EVERYONE wants to be where the action is ... but come on, is it really worth dropping $200 a pop on places that you might be interested in?

+1000 from an agent and one who has been saying for over a year to clients, wait. This is a bubble. This too shall pass.

And it's not $200, more like $500 - $600 on a house. That's a lot of cash, though an excellent time to be a home inspector.

[Anonymous]

OK, we just lost a house because the other buyer didn't have a home inspection. We were all cash with quick close..they had financing. It really hurts...

[Anonymous]

Anonymous wrote:

Anonymous wrote:Waiving these are a sign of Bubble 2.0.

Of course all the DC boosters will declare that now it's different, that DC is such a great place to live and that EVERYONE wants to be where the action is ... but come on, is it really worth dropping $200 a pop on places that you might be interested in?

+1000 from an agent and one who has been saying for over a year to clients, wait. This is a bubble. This too shall pass.

And it's not $200, more like $500 - $600 on a house. That's a lot of cash, though an excellent time to be a home inspector.

you are either the best agent in the world or the worst

[Anonymous]

We sold our house to a buyer that did a pre-inspection and had no contingencies over an all-cash buyer that did have an inspection contingency. Same $$$ offered to us, but we did not want the hassle of negotiating over repairs.

[Anonymous]

Anonymous wrote:So between these two, which would be better: cash offer with home inspection and quick close OR financing without home inspection?

Cash. Who cares about the inspection? Inspection items are fixable. Financing issues are out of our control.

[Anonymous]

We did the general inspection--it's a take it or a leave it inspection. We bought the house for the location. We didn't tear it down--the exterior 4 walls exist, but we gutted the interior. For us, the only thing that mattered was if the foundation was solid.

[Anonymous]

Anonymous wrote:We waived the home inspection and offered cash. It was a tough market. It worked out fine for us.

I don't have a lot of faith in home inspectors so waiving didn't feel like much of a risk. The inspector who came in when we sold our house found a million small things and missed some major ones (like the roof needing replacement).

Really? Our inspector was really quite good. He found, for example, that the electric box was Federal Pacific, which had been recalled as a fire hazard years ago. We made the sellers replace it -- at a cost to them of over $3,200.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Waiving these are a sign of Bubble 2.0.

Of course all the DC boosters will declare that now it's different, that DC is such a great place to live and that EVERYONE wants to be where the action is ... but come on, is it really worth dropping $200 a pop on places that you might be interested in?

+1000 from an agent and one who has been saying for over a year to clients, wait. This is a bubble. This too shall pass.

And it's not $200, more like $500 - $600 on a house. That's a lot of cash, though an excellent time to be a home inspector.

uh huh, so which economic collapse is coming to deflate this bubble?

[Anonymous]

Another government shutdown? which seems to be right around the corner...

[Anonymous]

Whether an inspection costs $200, $500, or whatever, compare that cost to the cost of the house. On a $1.25mm home, that is 0.04%. If you are that tight with money, you shouldn't be shopping for a home. You are buying yourself some protection. If you feel an inspection is pointless, well, good luck then.

[Anonymous]

Anonymous wrote:We sold our house to a buyer that did a pre-inspection and had no contingencies over an all-cash buyer that did have an inspection contingency. Same $$$ offered to us, but we did not want the hassle of negotiating over repairs.

Did they have financing? What if it falls through?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Waiving these are a sign of Bubble 2.0.

Of course all the DC boosters will declare that now it's different, that DC is such a great place to live and that EVERYONE wants to be where the action is ... but come on, is it really worth dropping $200 a pop on places that you might be interested in?

+1000 from an agent and one who has been saying for over a year to clients, wait. This is a bubble. This too shall pass.

And it's not $200, more like $500 - $600 on a house. That's a lot of cash, though an excellent time to be a home inspector.

uh huh, so which economic collapse is coming to deflate this bubble?

That's right, DC home prices will never ever go down. EVER!

EVER!

As an aside, I'd like to avoid selling a lemon to whoever buys my house (whether it be in 5 or 50 years). I don't know, just karma.

By "lemon," I'm not talking about me refusing to renovate a kitchen or bath to the tune of $20k just to be "fashionable", I'm talking about selling someone a house with a major structural repair that I've overlooked. DCUM 2040 can make fun of my place for being "so 1990s" all they want.