Should I get an inspection if I waived the inspection contingency?

One question I get a lot is "Should I get an inspection if I waived the inspection contingencies?" You are not going to get a credit, or a price reduction for any issues found. Since most people are putting all of their money into the down payment and closing costs, every penny saved can go a long way. So passing on the inspection might seem like a logical solution. Here is why you should consider getting one anyway.

First, let's get into what an inspection is. The main part of an inspection that comes to everyone's mind is to find costly repairs such as foundation issues, HVAC Issues, moisture-related issues, and so on. But that is just one of many things an inspector does.

When inspecting, my main concern is to find safety hazards which can often be fixed for fairly cheap, but if unnoticed can go on to injure, or possibly kill someone. An example would be exposed electrical wires which an electrician can usually repair for the price of a service fee, but if an unknowing child touches can be fatal.

Another service most home inspectors provide is a detailed photo report, which acts like an owner's manual to your house, showing you where your main water shut-off is, your main electric panel, your gas meter, and much more.

Some inspectors also provide you with the build date of your larger systems, (such as water heaters, and HVAC) and let you know if it's beyond the average life expectancy so you can properly budget to replace them in due time.

Another common use for our reports is for home warranty companies. Typically they will only cover issues that occurred after your policy took effect. It can be very difficult to prove that your oven or HVAC was operating before you bought the policy. A home inspection report is the best proof you can have.

So in summary I would say YES, I would always recommend getting an inspection. It's an unbiased written report describing the condition of your house before you moved in, which you can look back at for years, and it just might save a life.