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					Title:
Buying a Home -- Is a Home Inspection a Good Idea?


Word Count:
445


Summary:
To avoid “buying a pig in a poke,” buyers have long demanded the closing on a home purchase be
contingent upon a satisfactory inspection by a home inspection firm. In many parts of our country, we’re
now experiencing a strong sellers’ real estate market and sellers often receive more than one purchase offer
on the same day for their home. In this environment, buyers are rethinking the home inspection requirement.
Is this a good idea?



Keywords:
Buying a Home, Home Inspection



Article Body:
To avoid “buying a pig in a poke,” buyers have long demanded the closing on a home purchase be
contingent upon a satisfactory inspection by a home inspection firm. In many parts of our country, we’re
now experiencing a strong sellers’ real estate market and sellers often receive more than one purchase offer
on the same day for their home. In this environment, buyers are rethinking the home inspection requirement.
Is this a good idea?


To Inspect or Not To Inspect


Clearly, if a seller got two offers and one requires a home inspection be done, most sellers will choose the
non-inspection offer with all other things being equal. So, a home inspection requirement can put you at a
competitive disadvantage. Still, are you willing to risk purchasing a home that has some fundamental,
expensive problems? What if you purchase the home and subsequently learn plumbing under the floors must
replaced? What if the repair costs $10,0000?


One option may be to include a provision in your purchase offer that provides for a home inspection done
for informational purposes only. That way, settlement under your offer is not conditioned upon the
inspection. It would not provide you with the option of amending the contract to have the seller make
repairs, nor would it provide a way for you to void the contract should serious problems be uncovered.
Should serious problems be discovered, however, the seller is bound to know the deal will be in jeopardy.
For that reason, even an “informational” home inspection won’t look as good to her as a contract with no
requirement for a home inspection.
Another option you might consider in lieu of a home inspection is a sub rosa inspection. Instead of using
James Bond for spying, you could ask a friend working in the construction or engineering field to walk
through the house with you. The goal, of course, is to look for any glaring “red flags” that are deal killers.


If your friend doesn’t see anything disturbing, you can then write a clean contract offer without
contingencies. Sellers love no contingency sales. The chances are good that you’ll get the home you want,
but still have a some assurance there isn’t anything seriously wrong with the property.


There is no one right answer when it comes to deciding on home inspections. Each buyer has to ask himself
how much risk he is willing to take. If you are the only party making an offer, demand an inspection. If you
are one of many potential buyers, well, you are going to have determine your comfort level. Others can
provide information, but the decision is yours.




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