Why would anyone waive a home inspection? While it doesn't happen often and we usually don't encourage it a recent homebuyer decided to waive the home inspection.
"We had been looking at homes for quite some time, over a year in fact. We've seen a lot of newer homes, older homes and everywhere in between. We even actually put an offer down on a new listing but other buyers with better offers came in after us and got the house. We knew that the Portland real estate market was very competitive and that we were going to have to offer something that other buyers didn't in order to get the home we wanted. Our buyer's agent happened to find us a home that was recently on the market but then came off the market and back on again after the inspection. We liked the home so our agent called the listing agent and asked why the home was relisted. The agent said that the buyers found another home they liked better. The home had already been inspected. This was our unique chance. Our agent called the previous buyers and asked if we had permission to view the inspection report they just had completed on the home. With their permission we were able to view the report and since very little if anything had changed since the report and it came back pretty clean, we decided to make an offer on the home and waive the inspection.
While this is a unique situation it did work for us. We offered $5000 under the listing price but waived the inspection and asked for a quick closing time. These appealing additions to the offer outweighed the lower price and it was accepted on the spot. Less than three weeks later we were able to move in. Not only did we get the house we wanted but we saved money on the listing and didn't have to pay for an inspection."
This is definitely a unique situation. Not all buyers can just randomly ask inspectors for reports on previous houses but with the buyer's permission, you can obtain a previous report. Of course, new buyers need to understand that things can change with a property and not every report will be exact as the property is currently, especially if the inspection was completed months prior.
But this is the unusual and sometimes tricky way to help home buyers save money and do a little preemptive strike, so to speak. Not all previous inspection buyers will allow new buyers to view the inspection but in this case it worked out well. It certainly pays to have a dedicated and experienced buyer's agent on your side.
When you're ready, give our office a call! We know Portland and we know real estate transactions and can help you find and purchase the home of your dreams.