In Denver’s hot housing market, some buyers are considering waiving a home inspection on their desired property in order to be more competitive. While it may seem like a good idea in the moment, it could come back to haunt you.

Skipping an inspection can lead to unforeseen issues with the home after move-in that will be your responsibility. If you’re already going in with your best offer at your maximum budget, do you have the resources to repair extensive foundation issues or add a new roof after you’re moved in?

One option is to wait for more inventory to become available. Typically, more properties come on the market during the spring and summer months, but we understand waiting isn’t always an option. One alternative is negotiate lighter inspection terms instead of waiving it completely.

For example, you could elect to have a full inspection performed, but the sellers are only obligated to negotiate on major health and safety items. This can give your offer a leg up on others but still gives you the chance to ensure you are buying a safe and healthy home.

While getting a full inspection contingency in your contract is ideal, at minimum you’ll want to ask for contingencies on these three things: roof, foundation, and sewer line.

Problems found in one of these three categories can be some of the most expensive repairs for a homeowner and they are usually hidden problems that can’t be seen on a simple walk-through. This also gives you the opportunity to have a full inspection done regardless of the limitations and will provide a good overview of the condition of the property.

The market is still favoring sellers, but there are things you can do to stay competitive while also protecting your best interests. Ready to become a homeowner in 2022? Contact Metrowest today – we’d love to discuss your options!