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Should You Waive Your Home Inspection In Las Vegas?
Dated: August 3 2021
Today, a growing number of homebuyers are waiving this contingency in an effort to woo sellers in a highly competitive market with a smoother (and faster) sale. Home inspection in the past, buyers would typically include a home inspection contingency with their offer—a safeguard where a home inspector would check out a house for problems, which might lead to more haggling for repairs before the deal is done.
While waiving a home inspection is certainly a substantial risk for buyers, it can be risky for sellers, too. Why?
Because if homebuyers discover an issue after they move in that requires expensive repairs? I think it’s logical that, in most cases, one of the phone calls a buyer would make to a home seller, if they knew about an issue and didn’t mention it to the buyer.
Las Vegas require sellers to submit a seller disclosure revealing certain problems in a home’s past, like flooding, pest problems, or repairs.
The Inside Secret: Regardless of whether an inspection is happening or not, sellers must always be honest about known defects to the property that may impact value and disclose where appropriate on the sellers disclosure form.
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