{"id":17664,"date":"2021-04-06T11:11:00","date_gmt":"2021-04-06T18:11:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=17664"},"modified":"2021-03-29T15:08:07","modified_gmt":"2021-03-29T22:08:07","slug":"dont-waive-home-inspections-during-spring-homebuying-season","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2021\/04\/dont-waive-home-inspections-during-spring-homebuying-season\/","title":{"rendered":"Don&#8217;t Waive Home Inspections During Spring Homebuying Season"},"content":{"rendered":"<p style=\"text-align: justify;\">Spring buying season, the busiest time of the year in real estate, is upon us and large cities like Toronto and Vancouver are hotter than they\u2019ve ever been. Unfortunately, that means swaths of home purchasers are likely waiving their right to home inspections.<\/p>\n<p style=\"text-align: justify;\">Although that\u2019s been standard practice in the aforementioned cities for years now, it is still not without its risks. Issues with a home\u2019s foundation, electrical wiring, plumbing and roof are costly fixes.<\/p>\n<p style=\"text-align: justify;\">\u201cThe risk is far higher if you\u2019re looking at an old home that\u2019s never been renovated,\u201d said Justin Thouin, LowestRates.ca\u2019s founder and CEO. \u201cThere could be risk of asbestos, knob and tube wiring, and as a result you could find yourself in a home with massive costs that you didn\u2019t anticipate.\u201d<\/p>\n<p style=\"text-align: justify;\">Consequently, the buyer could be denied home insurance or charged a much higher rate until the problematic items are fixed. Thouin says up to 95% of deals in Toronto include forgone home inspections because of the competition, and offers that include inspections are typically declined outright.<\/p>\n<p style=\"text-align: justify;\">\u201cRealistically, this is not a huge issue, thankfully, right now because most times the selling side actually undertakes the home inspection before the home is put on the market, and usually these home inspections from the seller\u2019s side can be trusted as long as they use a recognized, reputable source,\u201d said Thouin.<\/p>\n<p style=\"text-align: justify;\">He added that inspections aren\u2019t necessary for condos and homes that were built recently. However, Davelle Morrison takes issue with the idea that a seller\u2019s home inspection is trustworthy.<\/p>\n<p style=\"text-align: justify;\">\u201cThat home inspector is working for the seller, not the buyer,\u201d said Morrison, a broker with Bosley Real Estate. \u201cPeople have been waiving home inspections for years now, so it\u2019s not anything big, but I usually tell my clients that if they want to put an offer on the home, they should do a home inspection before making that offer.\u201d<\/p>\n<p style=\"text-align: justify;\">Morrison admits, though, that in scorching markets like Toronto\u2019s, it can be difficult nailing down an appointment with a home inspector before the offer date.<\/p>\n<p style=\"text-align: justify;\">If homebuyers interested in a property cannot secure the services of a home inspector before the date on which their offers are due, Thouin says other things can be done, if only for peace of mind.<\/p>\n<p style=\"text-align: justify;\">\u201cWe hear all the time about people who bring their friend who\u2019s a contractor to a viewing to walk around the home,\u201d he said. \u201cThe contractor obviously can\u2019t see everything, but they know what to look for and it gives peace of mind to the prospective buyer.\u201d<\/p>\n<p style=\"text-align: justify;\">Morrison added that a lot of buyers spend money on home inspections, but after missing out on a couple of houses, their resolve to keep hiring them wanes. She advises not to let that happen.<\/p>\n<p style=\"text-align: justify;\">\u201cHome inspection costs around $600, and people are spending $1 million to $2 million on houses, so it would be good to know what you\u2019re getting yourself into by paying the $600 for a home inspection,\u201d she said. \u201cIt\u2019s just that people do it a couple of times, lose out on the house and they get tired of paying it, but it\u2019s money well spent.\u201d<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.canadianrealestatemagazine.ca\/news\/with-spring-upon-us-remember-not-to-waive-home-inspections-334579.aspx\" target=\"_blank\" rel=\"noopener\">With Spring Upon Us, Remember Not to Waive Home Inspections<\/a> by Neil Sharma | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Spring buying season, the busiest time of the year in real estate, is upon us and large cities like Toronto and Vancouver are hotter than they\u2019ve ever been. Unfortunately, that &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2021\/04\/dont-waive-home-inspections-during-spring-homebuying-season\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-17664","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Don&#039;t Waive Home Inspections During Spring Homebuying Season &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2021\/04\/dont-waive-home-inspections-during-spring-homebuying-season\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Don&#039;t Waive Home Inspections During Spring Homebuying Season &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Spring buying season, the busiest time of the year in real estate, is upon us and large cities like Toronto and Vancouver are hotter than they\u2019ve ever been. 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