Think Twice Before Waiving Home Inspection: 6 Costly Issues You Might Miss!

During COVID we saw an unprecedented level of competition in many markets across the country (Park City being one of them) and with that it was common for buyers to waive inspections (and most if not all other contingencies) as part of their offers to make them more competitive.

However, waiving an inspection can result in thousands of dollars - if not more - in home repair costs due to issues not readily obvious during a walk through.  Because of that, an inspection is almost always the very last contingency I recommend buyers waive in a competitive offer situation.  To give you an idea why, here are 6 major issues that an inspection can reveal and that can cost a home buyer lots of money!

1. Structural issues: A home inspection can uncover any issues with the foundation, walls, roof, or other structural components of the home. Structural issues can be very expensive to repair, and if left unaddressed, can lead to significant damage to the home.

2. Electrical issues: An inspection can reveal any problems with the electrical system, such as outdated wiring or unsafe electrical practices. Electrical issues can pose a fire hazard and may require costly repairs to bring the home up to code.

3. Plumbing issues: An inspection can identify any leaks, clogs, or other problems with the plumbing system. Plumbing issues can lead to water damage, mold growth, and other costly repairs.

4. HVAC issues: Inspections can reveal any issues with the heating, ventilation, and air conditioning (HVAC) system. These issues can include problems with the furnace, air conditioning unit, ductwork, or other components of the HVAC system. Repairs or replacement of the HVAC system can be expensive.

5. Environmental hazards: Inspections can identify any environmental hazards such as asbestos, lead paint, radon, or mold. These hazards can be dangerous to the health of occupants and require costly remediation.

6. Pest infestations: An inspection can uncover any pest infestations, such as termites, rodents, or bed bugs. Pest infestations can cause damage to the home and require costly extermination.

In short, waiving an inspection can be risky and leave a buyer vulnerable to unforeseen problems with a home.  Imagine paying tens of thousands of dollars (if not more) in a down payment and closing costs and then turning around to face a huge bill for remediation of a serious issue with your home right after moving in!  

That's why I almost always advocate for an inspection in the buying process - to protect my clients' interests and make sure they don't wind up with any unexpected issues in their new home.