Can we talk about why everyone pushes for a home inspection contingency?

Last month I put an offer on a 1950s ranch in Phoenix and skipped the inspection contingency because the sellers had a recent report from a licensed guy. Now my realtor is saying I made a huge mistake, but I saved $500 and the deal closed in 10 days. Am I the only one who thinks inspections are sometimes overrated for older homes?

2 comments

2 Comments

dakotam171d ago

Haven't we all skipped something once and hoped for the best, only to find out later it was a bad call? I skipped an inspection on a '70s fixer-upper once and discovered the wiring was basically a fire waiting to happen, and that $500 savings turned into a few grand real quick. Your mileage may definitely vary, but on older homes like that ranch, there can be surprises hiding behind that fresh paint and seller's report.

emmajackson21h ago

Oh man @dakotam17, I did that with a fridge once and it started making noises like a dying whale at 3am!