Buying A Home As-Is?

Here’s Why You Still Need A Home Inspection…

In the tight real estate market we are in right now, we are seeing buyers strengthen their offer by waiving their inspection period and buying a home “As-Is”.  As a real estate professional, this scares me. Don’t get me wrong, there is nothing wrong with buying a home “as is,” it’s the waiver of the home inspection that makes me jittery. If you are considering buying an “as is” home, you should still keep the inspection period and hire a competent home inspector to perform an inspection.  There are several reasons for this.

First

…you don’t know what “as is” is. Sure, you can walk through the home and get an idea of its general condition.  You may even spot some defects or items in obvious need of repair.  But you won’t obtain the same detailed information you will receive if you hire a home inspector.  Home inspectors are trained to look for things you are not likely to notice.  Armed with a home inspector’s detailed report, you will have a better idea of what “as is” means regarding that home. This means you’ll be in a better position to know whether you want to buy it.  Although, the inspection period is generally not a time to renegotiate the price. If you are purchasing ‘as-is”, you may be able to use information from the home inspection to negotiate a lower price.

Recently, there was a newer home (less than 3 years old) and mold was found behind the shower. Years down the road this could have been a major problem if the buyer had not hired a licensed inspector.

Second

…Louisiana requires the seller to provide the buyer with written a disclosure about the condition of the property.  The Property Disclosure Document. Sellers often provide little information, and a few even lie.  (The Horror!) Conducting a home inspection can provide the missing information. If an inspector finds evidence that a seller concealed information or lied to you, that may be a sign that you don’t want to buy a home from that seller.

We understand the market is tight but the smart thing to do is keep that inspection period in the contract and hire a home inspector before moving forward. Remember:  The home inspection cost is a very small amount compared to the price of the home.  In Louisiana it’s Caveat Emptor which means Buyer Beware; Be an informed buyer, and hire a reputable, licensed home inspector.

If you need a recommendation, just let us know. We know a few!