If you put an offer on a house that goes into multiple offers, chances are you must waive two conditions: home inspection, and financing. We will deal with financing next week, but for now lets talk about the home inspection clause.
In the 80's there was no such thing as a home inspector. The home inspector was an uncle or friend who was in construction, who came to look at houses with you. After so many lawsuits, and into the new millennium, home inspectors and inspections became a thing. Some good, and some bad, like everything. Now they are talking about new regulations for inspectors and schooling. When that happens I'm sure we will all praise the day.
Nobody is perfect, and no inspector can detect everything that could possibly go wrong in a house. So you must also keep your eyes open and due your own due diligence. My advice in this market is to get a home inspector that will give you a discount to do a walkthrough of the house before you put an offer. It will not be a full inspection with a report, but the inspector will go through the most crucial points of the house.
Here are the most crucial points that they will be looking at:
1. Roof: Age of Roof
2. Foundation: Cracks, leaks, mould
3. Attic: See if there is mould, moisture
4. Electrical: Is it up to date, done properly
6. Any renovations done the property were done right
There are many more, but I believe these points are most crucial to getting a home inspection done, or a walkthrough.
Another thing you might want to reconsider is using the pre-home inspection. In most cases they are incomplete, and not done by a reputable inspector. These reports can be swayed to forget some certain key areas of a concern. So while you may be tempted to just use the report that the listing agent has very handy, you might also want to do your own due diligence when spending a lot of money on a house.