Home Inspection Contingency | Monday Minute January 11, 2021

When purchasing a pre-owned home, just like buying anything, sometimes that home may have problems, some more than others.  And while no one sets out looking for issues on the search for a new home, homes require ongoing maintenance and not every homeowner is on top of all of those items.That’s why when writing an offer on a home we often use inspection contingencies.  There are a number of different inspection contingencies one could use; from a more over encompassing inspection like the general home inspection or miscellaneous inspection period to a very specific inspection like Radon, Mold, or lead for a few examples. The general or traditional home inspection is otherwise referred to as a Structural and Mechanical inspection. During this inspection, a licensed home inspector is hired to inspect the property including (but not limited to), the foundations and or basement, floor systems, ceilings, doors and windows, the roof, insulation, both exterior and interior wall systems, any decks or porches, garages, plumbing and electrical systems, heating and cooling systems, appliances, and mechanical equipment.  And at the end of this inspection the inspector will supply the buyer with a report that we will be able to review and make a decision on whether or not to move forward with the purchase, or if we need to ask for repairs or re-negotiate for us to be able to move forward.Having a home inspection done prior to purchasing is one of the best ways to fully know what you are buying, and can save you a ton of headaches and not to mention a ton of money if that inspection were to uncover a litany of issues.I rarely recommend buying a home without inspections, however, depending on the age and condition of the home, you may or may not want to write an offer contingent on inspections, especially if you are in a competing offer scenario. In those scenarios, we often will use an AS IS inspection, which gives us the ability to do the inspection and if our findings are are negative, gives us the opportunity to withdraw our offer and get our deposit back, without the seller having to worry about any repairs being requested.  This AS IS inspection clause is like getting your cake and eating it too.