5: Seller’s Market, Buyer’s Gamble

We are in a "seller's market", meaning the party selling the home sets the terms of the sell. The terms for many sellers is that they want to bypass the inspection and close the deal. By bypassing an inspection you are giving up your right to find any problems with the home, request repairs, or to negotiate better terms.

Inspections act as a quality assurance for the buyer. They are also educational. You should learn the repair history of your home, find the major safety features, the water shut off valve, the gas shut off, whether the thermostat works properly. Not only have prices gone up but you are gambling to pay out of pocket for repairs the seller may or may not know are needed. This is not in your best interest under the best of circumstances, even new homes have problems.

Have your inspection now so that you can plan around when the appliance failures may happen, plan for that new roof, fix that leak, or find the rotting wood under the flooring beside the tub before you literally step through the floor.