When it comes to home buying, we feel very strongly about why you should never waive home inspections. What does this mean exactly? Well, when you make an offer on a property, we negotiate in the contract how many days you will need for your inspection period. Waiving your inspections means you are putting down ZERO days for your inspection period. We are going to tell you all the reasons you should NEVER sacrifice your inspection time.
Before we dive in, your inspection period is also known as your due diligence period too. During this time frame, you need to do more than just home inspections!
#1: Unexpected zoning issues
Your inspection period is for more than just doing inspections on the home. It’s also your time to look at the zoning, etc. of the property.
If you think you’re buying something that is commercially zoned but find out during the inspection period that it lost that commercial zoning, you can get out of the contract during this timeframe. Waiving your due diligence time means you won’t have a way out with serious financial consequences.
#2: Prior work was not permitted
One of the other things we have discovered during this time frame is that the renovations completed on the house were not permitted.
Is this a problem? Sure is.
Likely, things weren’t done properly. Also, if you’re in a historic district – those unpermitted renovations can cost you money down the line.
#3: Historic districts
Not all agents know where all the historic districts are located. We can find out what control the HDLC has over the house you’re purchasing during our due diligence time.
If you have grand plans for renovations, but they involve additional permits, or worse, not even allowed, we need to know before it’s too late!
#4: Plumbing issues
Our inspection period is the time we get a video pipe inspection of the sewer lines.
Some common things you will find in New Orleans are that your plumbing lines are leaking or cracked. Other times you will find your sewer line runs through the neighbor’s yard. This is a very costly repair and is a MUST to get completed.
#5: Insurance
You may not know how bad the homeowner’s or flood insurance is on a property until after you have an accepted offer. If the insurance cost is enough to knock the monthly payment out of your price range, this is the time to know!
#6: Change of heart
This essential inspection period also allows you to have a change of heart about the house. Maybe you have a bad feeling about it or your mind has changed – you can’t do that if you have waived your inspections!
It is not common in New Orleans for people to opt out of home inspections. But this is common in many other cities! (and we all know we are the last for trends to come here.)
We think a reasonable middle ground is setting a shorter inspection period. Don’t ask for 2 weeks for inspections if it’s a competitive offer situation. Ask for a week, and we can get everything inspected in that time frame! But, NEVER WAIVE HOME INSPECTIONS!
Call us now to start the home buying journey!