Even if you "waive inspection" you still do an inspection

Ryan Jenkins

Have you seen all these news articles where the poor home buyer is saying, “oh my gosh I waived inspection and bought a house with all these problems!!” Why are these people not doing inspections!? Waiving your inspection contingency should NEVER mean that you don’t perform an inspection. Also, just because you waive inspection doesn’t mean you can’t re-negotiate if things are bad enough. At the end of the day, you can always walk away from the deal and that is often all the leverage you need if major issues are found. Your earnest money may or may not be refundable depending on how your contract is structured. One thing to note, there are some instances where a buyer’s non refundable earnest money is a really painful amount. Some well heeled buyers are putting down $100k non refundable! This is rare in Northern Colorado and is more common in Denver and markets like Austin and LA and is usually done on high end homes that have been very well cared for. Regardless of how your contract is structured and how much earnest money is in play, please do your inspection!

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