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Why waiving a home inspection is unwise

On Behalf of | Mar 16, 2023 | Real Estate Law

When you look for a home to buy in New Jersey, problems or defects within that particular home may not be readily apparent. The main point of a home inspection is to have a trained professional look through the home and identify any areas of concern. If you are facing fierce competition from other buyers, you may think waiving a home inspection might make your offer more appealing to the seller. However, there are several reasons waiving a home inspection is not a good idea.

Per Realtor.com, here are two reasons you should never waive a home inspection, even in a competitive real estate market.

Home inspections identify major issues

Even a new-construction home may be hiding serious and costly problems that may not be visible to the naked eye. Once you buy a home that has a major defect, you have limited, if any, options. Say, for example, you buy a home without having a home inspection done and then that home has major issues with its foundation. Once you buy the home, it is up to you to fix the foundational issues, regardless of how much they cost.

Home inspections give you negotiating power

Another reason it is smart to have a home inspection done anytime you seriously consider buying a home is that the home inspection report may give you negotiating power that leads to a lower price. If the home inspection reveals the need for, say, a new water heater or HVAC system, you may be able to work with the seller to help offset these expenses.

A home inspection involves an initial investment, but given how much it could potentially save you, that initial investment may prove well worth it.