What are the pitfalls of trusting the inspection report produced by the seller and waiving off our right to inspect? Is it advisable? The market is hot, and i am hearing that folks are waiving off inspection, it sounds risky though.
If the inspection report is from a known company, I would waive off. You can talk to the company too to understand any high priority items.
How do i locate a list of reputed inspectors? Is it just via yelp rating, or is there a better approach?
You can talk to your agent about that. I am not sure if there is a rating or any parameter to measure their credibility.
You can make an inspection before offer review date and then waive inspection It’s a small price to pay to both not shoot yourself in the foot but also be able to give a more competitive offer with confidence. I can PM you details of a top tier inspector who used to be a contractor that I used — as a former contractor he knows what to look for. He is fast and super thorough. That’s about $250-450 depending on the size of the house. Even so, an inspection won’t find everything. You’ll likely need to spend like $5k to find “everything”, and is rarely ever done. Perhaps for new construction disputes. I did pre-inspections on multiple properties, including the one we ended up buying.
Yes please send me the details.
Waiving inspection can happen with or without the presence of seller's inspection. Inspection reports are also independently done, so it makes ne difference that the seller have the inspection done, it all depends on the inspector's expertise. Usually it's a bad idea to give away your right to back out if shit goes wrong though. I'd just take a calculated risk instead. You can ask for the inspection report for review before giving the offer. If something looks weird/off in the report I'd keep my option of having another inspection. If everything looks good, you can choose to waive the inspection.
Thanks. But how do we find out the evaluators competency? I saw a few reports, some were professional looking, others not ao much.
As a person who doesn't know whose work is professional or not, I believe I'd have 2 options: - look at the inspector's reviews on Yelp, see how trustworthy this person is. - compare inspection reports with each other. Even though they are not for the same home, you might find some items that are done in one report that's missing in the home you're planning to give offer. If it happens to be a worrisome item, then keep the inspection.