Chic vs. Geek: Are home inspections worth it?

In a hot real estate market, competition forces buyers to bid on homes without having them fully inspected. But can you trust a seller’s inspection report?

CHIC (PEARL)

We see a lot of buyers around the Bay Area waiving a home inspection to make their offer more enticing to the seller. This is a huge risk, not only because the home could have serious problems lurking under the surface, but because the buyer could end up footing the bill for their own pre-inspection to “do the due diligence” – and still not end up winning the bidding war. In my opinion, it’s worth the risk to have some peace of mind and get an inspection done first — even if you miss out on a property.

GEEK (KEVIN)

A home seller’s goal should always be to get the highest price possible as quickly as possible. A buyer’s goal should be to get the lowest price possible and make sure they’re not buying a lemon. In this perpetual tug-of-war, there’s really no way the buyer can 100% trust what the seller says about the home, even if they provide their own inspection report. But it’s important to remember that the same applies for the seller if the buyer comes in with a low offer based on their own pre-inspection.