A home inspection requires a third party to evaluate a property’s structural and system components to verify its overall value. No matter how fast the market is, waiving a home inspection isn’t in the buyer’s best interest. Discover the top 6 problems with not having a home inspection done on a property right now.
1. Potential Health Hazards
Health hazards might lurk within the home, which cannot be seen with a cursory glance. A certified home inspection performed by a local company can uncover issues as varied as mold, asbestos, and more. In addition, radon tests are often part of this inspection. If the inspector finds any health hazards, the buyer and seller can discuss mitigation options afterward.
2. Serious Structural Issues
Without a home inspection, buyers may not be aware of structural problems. Essentially, the foundation, walls, and roof create a home’s structural envelope. Each component must be free from any damage. With an inspector’s trained eye, he or she can detect sagging or cracked foundations. Also, inspectors take a close look at the rooftop. Here, they look for missing shingles, low-lying sections, and more. Afterward, buyers receive a full report on damage throughout the home.
3. Improper Bid on Property
A major problem with a waived home inspection is paying too much for a property. Critical damage discovered during an inspection gives the buyer a bargaining chip. In short, the seller can either repair the problem or lower the home’s price in compensation. Then, the buyer can decide whether or not to proceed with the transaction.
4. Major Appliance Problems
During a home inspection, inspectors thoroughly evaluate and run the property’s major appliances. For example, inspectors run the HVAC system through a complete cycle of both heating and cooling. Turning on all the lights, running water through every fixture, and evaluating associated components are also included. Overall, any potential issues should arise as the inspector runs through this comprehensive checklist.
5. Shaky Legal Liability
Home inspections provide some legal protection for buyers. If buyers waive an inspection, purchase the home, and find a major problem, they have little to no recourse regarding lawsuits. Because the property has been transferred to the new owner, the original owner has no legal reason to correct this problem. When an inspector reports a critical issue before a property transfer, only then is the original owner potentially liable to correct the problem before selling.
6. Illegal Addition Issues
Some sellers invested in additions to the home over the years. Although extra square footage is attractive, any additions must be built to local codes with proper permitting. Certified home inspections can verify if these additions are legal or illegal. Without a home inspection, buyers may inadvertently purchase these additions, which leads to taxation issues, insurance woes, and permitting constraints.
Overall, a home inspection creates a transparent transaction between the buyer and seller. Then, the property can be transferred between parties without any delay. In the end, always opt for the home inspection before signing any final documents.