Rethinking if we really need a home inspection contingency

I was talking to my uncle who bought 3 houses in Ohio over the last 40 years and he said he never once did a home inspection because he figured the bank already vetted the place. For my first house in Phoenix last month, I spent $500 on an inspection that caught nothing major, just a loose toilet handle and a cracked outlet cover. Am I wrong to skip it on the next offer to make my bid look stronger?

2 comments

2 Comments

charlie2693d ago

I actually read somewhere that Ohio doesn't even require home inspections for standard sales, so your uncle might just be used to a different market. But Phoenix is a whole different beast with those summer heat waves, I've heard stories of AC units dying right after close and costing thousands to replace. That $500 you spent sounds like a drop in the bucket compared to what a bad foundation or roof issue could cost you down the line. Idk, maybe it's just me but I'd rather know about a cracked outlet cover than find out later the wiring is all messed up.

gavin802d ago

Yeah I saw a piece online about how Ohio basically treats home buying like a Craigslist transaction. $500 is small change when you're gambling on a Phoenix AC that's older than some of the people on this forum.