Is it OK to Waive a Home Inspection on a Home
in the Sarasota Real Estate Market ?
Don't Give It Up Without Knowing What you are Giving Up
In a "hot housing market" like Sarasota Florida or when there are multiple offers for the
same property, there is a tendency on the part of anxious home buyers to think of dropping
the standard contingency requiring a professional home inspection. Waiving your
inspection contingency may help you prevail if there are multiple offers on the home you
want, but it can prove to be a very costly mistake.
Buyers who waive the inspection contingency have no protection at
all against potential defects in the home. A leaking roof, faulty wiring, appliances that
don't work or a defective heating or air conditioning system may not be readily available to you
as a buyer. But these problems, if not discovered before the sale is closed, can cost you
thousands of dollars in unexpected repair bills just when you may be either short of cash or
wishing to spend what cash you have on decorating, not on repairs.
The best way to avoid unpleasant surprises is to insist upon a professional
inspection before you buy any Sarasota real estate property. A top-to-bottom examination of the
home is probably one of your best and most important investments. An
inspection will include a review of the heating and cooling systems, plumbing and wiring,
all major appliances, the pool and supporting equipment if there,
plus the walls, attic, ceilings, floors, windows and, if there is one, the basement. The
specifics may vary slightly based upon the type of construction are evaluated to determine if they
are in "working order."
Your Sarasota Realtor can provide the names of qualified and experienced
professional home inspectors in your area. You can also find a directory of qualified Sarasota area home
inspectors at the website of the American Society of Home Inspectors (ASHI) at
www.ashi.com.
Your Sarasota home inspector will review their findings with you and alert you to
any costly or potentially hazardous conditions they find. If costly repairs are necessary, the
seller may be willing to either get them done before closing or reduce the selling price to offset
the costs you would otherwise have to bear yourself. When only minor repairs are needed,
an agreement can often be worked out that will not affect the sale price. The seller often
gets the repairs done themselves before closing.
Your home inspection of any Sarasota or Longboat Key real estate property serves another useful purpose -- education.
Many buyers want to learn as much as they can about their new home to protect
their investment. An impartial home inspector can provide you with helpful advice on how to
keep the systems in your new home working at their most efficient level.
So, should you waive your right to a professional
home inspection as a way to entice the seller to accept your offer ? You can if you want to,
but know that you are giving up a very valuable protection that may prove to have been a costly
mistake when it’s too late.
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