It's a hot real estate market, and some buyers may be tempted to skip getting a home inspection to try to stay competitive.
Recent data from Redfin show the percentage of successful offers between September 2020 and February 2021 that waived the inspection almost doubled from a year before.
But, experts warn, buyers should be careful and not skip this important step in the homebuying process.
“I definitely think everybody should get an inspection, always,” said Kaitlin Oberg, a realtor with the Red Sign Team at Keller Williams Westfield Real Estate in Orem, “because you need to be knowledgeable going into such a big decision financially.”
2News followed Jensen Paterson, an inspector with On Site Home Inspections, as he inspected a home Wednesday afternoon. In just minutes, he found several things a buyer may want to know about the roof and siding.
“I point out all the problems so that the buyer knows what they’re buying,” Paterson said, “and then they can make an informed decision on whether or not they want to buy it.”
Paterson noted any home has at least something wrong with it, and it’s important for buyers to be aware before they make a major investment in a house.
Jeffrey and Allison Green live in Illinois and are moving to Springville in a few weeks. They got an inspection within a short due diligence period and found their home had radon. The sellers agreed to fix it.
Both are glad they didn’t skip the inspection.
I can understand the temptation to do that because it’s truly a blood bath out there to try to get a home,” said Allison Green. “I can understand why people are doing it, but I’m glad for us that we were able to get the inspection.”
“We didn’t ask the seller to make all the repairs that were listed,” added Jeffrey Green, “but we know going in what kind of things to expect.”
Oberg, the realtor, said many buyers no longer ask sellers to make repairs even if they get a home inspection. Some are also putting up more non-refundable earnest money to stay competitive. However, the buyer loses that money if they walk away from the house.
Definitely always get the inspection,” Oberg said, “so that you know what you’re going into, whether you ask for repairs or not.”
Paterson added, “A $300 to $400 inspection, I think, is well worth the insurance, so to speak, to find out what’s wrong with that house that you’re buying.”