Should I waive a home inspection?

Should you waive your home inspection when making an offer on a home? The highly competitive market that buyers have been facing lately has caused many to, understandably, ask themselves or their realtor this question. Of course we think the answer is NO WAY, but check out this video and speak with your real estate agent for strategies on how to retain your right to an inspection while still making a strong offer.

A quality home inspection will protect you from big ticket repair surprises. Your inspection report could reveal a $5,000 - $10,000+ repair needed if your new home needs something like a new AC or new roof. Waiving your inspection just to "win" the home can get even more costly if there are hidden plumbing and electrical issues, or flood/ water damage.

Discuss inspection contingencies in your offer with your realtor. An inspection can allow you to walk away from a total surprise money-pit, or simply allow you to renegotiate your initial offer and get a slight discount even if sellers don't want to make any repairs. Another tip Kyle discusses in this video is to only request repairs or credit over, say, $5,000 after an inspection so that you still get the protection of an  inspection, but the seller knows you're not trying to "nickel and dime" them.

Realtors and buyers - we'd love to hear your tips /perspectives on this topic!