My Buyers Advice, do the home inspection!
Common issues found during Wichita home inspection - Kimmy the Realtor
I know it’s a tough market for buyers right now and that agents are trying their best to be creative as possible to help win the bids, but should waiving the home inspection be the way to do it? I’ve seen agents waiving the home inspection altogether or stating in the offer that the inspection is for informational use only. Yes, you are able to back out of the deal if you get the inspection and a major repair is required. However, the buyer then looses their earnest money which is a good chunk of change they have to come up with. This is critical in a time that the buyer needs all the cash they can scrounge up to go towards the offer price. Offers typically need to exceed at least 1 to 3 percent over the list price.
Some also believe that the newer the house, the less risk of major repairs. However, in some cases contractors are working extremely fast to get homes built due to the housing shortage. Sometimes they’re building to the bare minimum of code. And frequently, they’re subcontracting out projects to a wide array of vendors, whose competence and diligence might range significantly. On top of all that, sometimes mistakes just plain happen.
The 5 Major Repairs to look for on an Inspection: Roof, foundation, mold, plumbing and electrical issues can all be costly. In a time where buyers have to offer their best and highest and paying over asking price, why would they want to pay for any major repairs on top of that? There are several ways to win in a multiple offer situation without putting your buyer at risk. As an agent, I have always encouraged my buyers, whether it’s new construction or a hundred-year-old house, to do an inspection.
Kimmy Ostrom, Realtor
Keller Williams Hometown Partners, LLC
(316) 665-6477
