Home Inspections Still Vital During Hot Housing Market

Property inspector Tim Krof checks the chimney of a home for a client who is selling their house. (Home Standards)
Scott Stewart
The Daily Record

Omaha’s housing market is hot — so hot that some buyers aren’t having the home inspected before closing on the property.

Eager to have their offers accepted amid fierce competition, some buyers place offers that skip a home inspection, if their mortgage lender doesn’t require an inspection to be conducted.

Real estate brokerage Redfin found that in December 2020, the home inspection was waived in more than 30% of successful offers put in by its agents, according to personal finance website NerdWallet. That’s more than double the rate in December 2019.

Home Standards Inspection Services, a small business serving the Omaha and Lincoln metro areas, says buyers can instead request an “information only” inspection, in which the seller is not responsible for making repairs prior to closing.

“What price should someone put on peace-of-mind when making what may be the largest investment of their life?” Jon Vacha, vice-president for Home Standards said in a news release. “We want people to avoid being one of the buyers two, three, five years from now who is regretting their decision to forgo an inspection.”

A buyer would still be able to walk away from the sale if the inspection uncovers significant issues, or they would at least understand what repairs might be necessary shortly after closing or in the coming years.

Home Standards said an inspection is a small investment with the local median price point for a home around $230,000, and they can help new owners understand their investment even if they don’t intend to reopen negotiations with the property’s seller.

Find more information about Home Standards at hsinspections.com.


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