There is a normal cycle of real estate to have buyer's markets and seller's markets. For the last 2-3 years, when someone would ask me "what market we are in?"(buyer or seller), the answer was
The Value Of A Home Inspection
Dated: October 7 2020
This year's sellers market has seen some interesting ploys by buyers in competitive offer situations. One is giving up the right to a home inspection. On the surface, this may seem like a good strategy - win the offer by foregoing contingencies, and trust that no latent defects exist in the home or on the property.
But is this a prudent strategy in the long run? What if the owners are selling the house in an "as is" condition because they know of a hidden defect that will be very expensive to correct? Or what if there is a big problem that the sellers are unaware of that the home inspector finds?
Home inspections do not mitigate risk, but they at least reduce risk. The home inspection report also gives you a visual and written list of all the items that need repair or replacement, a helpful tool that becomes part of the House To Do list in the coming years.
Perhaps reading summaries of lawsuits in recent years that reveal the list of hidden defects buyers find and take sellers to court would provide some room for further reflection.
A wise prophet once said, " Without guidance plans fail, but in the abundance of counselors there is rescue."
Roger has been a resident of Maryland for over 30 years. He brings a solid background in sales and customer service along with an expert knowledge of Frederick County and the local community. He is pa....