Anonymous
01/19/2021 15:28
Subject: Re:Is it suspicious when seller’s agent asks us to waive inspection contingency?
Anonymous wrote:Anonymous wrote:Anonymous wrote:OP again-offer wasn’t accepted, lesson learned for next time I guess. Thx again
The lesson isn't that you always waive the contingency. The lesson is that sellers often are aware of issues needing costly repair and they don't want to cover the cost. So, an offer of $200,000 and no inspection trumps an offer of $205,000 with inspection that will reveal the foundation needs $20,000 of underpinning.
It is because of HGTV they expect used homes to be perfect. My house got a thing flagged in 1991 on lower grade improper window install in porch in 1991. I know as bought house in 2000. My inspector flagged. I casually mentioned it to seller on walkthrough, he joked got flagged same thing.
In 2018 when go to sell house some snot noise rookie buyer flagged it. I am like dude who cares. Windows are 35 years old and porch is unheated. One of his nits and mats. I sold other buyer more experienced who I guarantee won’t replace windows. Porch is unheated. Has a large slider no need to ever use the old windows.
This is why many want no inspection.
Pretty sure this guy is drunk.
Anonymous
01/19/2021 15:06
Subject: Re:Is it suspicious when seller’s agent asks us to waive inspection contingency?
Anonymous wrote:Anonymous wrote:Anonymous wrote:OP here- Thanks for the replies. We put in the inspection contingency and we would not require seller to do any repairs if anything comes up. We have option to back out of the contract based on problems found in the inspection though.
Kiss of death. You will not get the house.
Not necessarily. A house is by far the most expensive thing most people will ever buy. I would never buy a house without an inspection. You are screwed if there are foundational issues, major mold issues, massive water/plumbing issues, major unpermitted work. Friends bought without an inspection and found major water damage. They fixed using a licensed plumber and when city inspector came they were told the bathroom was unpermitted and it needed to be torn down. Tearing down, fixing plumbing and electric and rebuilding bathroom cost them 80K.
You are correct. That is why you do a pre-inspection. ` If you can't live with the results, you don't make an offer on the house. Why entangle yourself and a seller for 10 to 15 days when the seller wants you gone so that they can sell the house to someone else.
Anonymous
01/19/2021 15:04
Subject: Is it suspicious when seller’s agent asks us to waive inspection contingency?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Do you want the house?
Yes
get a pre inspection and see if you can live with the problems found.
I did two pre-inspections for buyers today and the issues were far less than they anticipated.
Agent who posted this yesterday: One offer with a pre-inspection went through. Waiting to her about the second offer with a pre-inspection.
Anonymous
01/19/2021 14:29
Subject: Is it suspicious when seller’s agent asks us to waive inspection contingency?
When we sold our condo, we offered the buyers a home warranty if they didn't do the home inspection. We were upfront about the age of the major appliances and an inspection was not going to change that. They were near the end of its life. The buyers were 1st time homebuyers and said they would rather do an inspection but agreed to do it as void only. Of course, they tried to negotiate when the inspector told them that the a/c needed to be replaced asap. We told them they were free to cancel as we had another offer waiting in the wings. They ended up waiving the contingency and we closed shortly after.
Anonymous
01/19/2021 12:46
Subject: Re:Is it suspicious when seller’s agent asks us to waive inspection contingency?
Anonymous wrote:Anonymous wrote:OP again-offer wasn’t accepted, lesson learned for next time I guess. Thx again
The lesson isn't that you always waive the contingency. The lesson is that sellers often are aware of issues needing costly repair and they don't want to cover the cost. So, an offer of $200,000 and no inspection trumps an offer of $205,000 with inspection that will reveal the foundation needs $20,000 of underpinning.
Sadly, unethical buyers often use inspections as a reason to renegotiate, thus ruining it for everyone. So you can't tell -- perhaps the sellers have unknown or undisclosed issues -- or perhaps they just don't want to deal with buyers who (like some previous posters on this forum) deliberately bid over their budget with the plan of renegotiating after inspection.
Anonymous
01/19/2021 12:18
Subject: Is it suspicious when seller’s agent asks us to waive inspection contingency?
I predict almost all houses in the spring market will have inspections waived.
Anonymous
01/19/2021 11:25
Subject: Re:Is it suspicious when seller’s agent asks us to waive inspection contingency?
Anonymous wrote:You can usually tell if a house is well maintained or not even without an inspection. I would never waive inspection if I had doubts about the condition of the house. If it’s obviously well maintained and there are tons other interested buyers, you need to waive contingencies if you want the house. Sorry you didn’t get it this time OP. There will be a house for you.
never again will I sell without a waived inspection contingency. I understand needing to fix issues, but my last experience was a buyer who just wanted to renegotiate an offer