Buying
Should I waive the inspection contingency?
Short answer
Only with a pre-inspection. Waiving inspection without doing a pre-listing inspection is a real financial risk. With a pre-inspection in hand, it can be a powerful competitive tool.
Waiving inspection without a pre-listing inspection means accepting the property with no knowledge of what's behind the walls, in the foundation, in the roof, in the plumbing, or in the electrical. Major repairs after close can run $20K-$100K+ on East Bay homes.
The safer way to waive inspection in competitive offer scenarios:
1. Use the seller's pre-listing inspection (if available). Many East Bay listings now include a property inspection, pest inspection, and roof report in disclosures. Review these carefully with Roger.
2. Do your own pre-offer inspection (with seller's permission). You pay $500-$800 for a 2-3 hour inspection before submitting your offer. You now know what you're buying. You can offer non-contingent with full information.
3. Waive inspection only after you've inspected. This is the smart move: you've done the work, you know the property, and you can credibly waive the contingency in the offer.
The dangerous move: waiving inspection blind because the listing agent says "the home shows great" or because you're worried about losing the property. Roger will tell you when to walk away from a property that requires waiving inspection without proper review.
I want to give you a complete answer, but I need to know your specifics. Reach me at (510) 504-0402, text or call 24/7 at (406) 205-9003, or email roger@grubb.net. I answer my own phone.