We all know how important it is to negotiate the best deal you can get when it comes to Real Estate purchases, but don't forgo what's really important. In this challenging market some buyers think they are getting a leg up by making offers that are releasing the inspection all together. Some buyers feel this will give them an advantage when competing with other bids.
But what you may end up with, should you win that bid, is a house that you have now paid too much for, and all the troubles it now comes with. Having the home you are considering buying inspected can help you to negotiate certain items into your contract. A seller isn't responsible for fixing everything discovered, but you will know what you are getting yourself into, and you can place an offer that reflects more accurately what you feel the home is worth and why. The buyer will then have a remedy period to take any action on what is found in the inspection. Most contracts are written for the buyer and seller to negotiate mutually to work out suitable arrangements for both.
While sellers are to formally disclose things that they know to be defective in their home, some sellers can be unaware of problems that are out of sight. On the other hand, some buyers may think they have a good idea of how to identify existing problems. Can you really trust yourself to catch everything? And the one thing you miss may be the most costly mistake you make. Save yourself the trouble and hire a reputable, professional, licensed home inspector. You'll be glad you did!
