My agent said if I skip the inspection, I'll likely get the house.
Should I do it?
In certain competitive real estate markets, waiving your right to a home inspection may help you win the desired home. However, is it in your best interest?
In most situations, this is probably not a smart decision. It is mind-blowing that people who won't purchase shoes without trying them on, will waive their right to a home inspection simply to win the deal. This is often the most money an individual will spend in their lifetime and they should do everything in their power to protect their investment.
Spend a few minutes on Google and it is easy to find people who skipped their right to an inspection and paid a very expensive price. It is better to come in with a higher offer on your deal rather than to skip the inspection. Even if you're buying the property "as is", a home inspection is essential.
The "as is" deal implies you will not be asking for any type of concession from the seller. This is very common in real estate and is not necessarily a bad thing for the right property. However, you need to have the inspection performed so you know what you're getting or so you can simply terminate the contract if the amount of repairs exceed what you're willing to make. Most real estate agents are well aware of how important a home inspection is and will tread lightly when discussing whether you should skip an inspection. If you do waive your right to an inspection, the agent may ask you to sign paperwork stating you understand the risk of foregoing the inspection.