I very rarely watch the real estate shows like "Real Estate Confidential" or "Flip This House".  I get enough real estate practice during the day, but every once in a while, I happen to stop on one of the shows as I'm surfing channels.  Last night I saw a tag line on one of the shows reading "Dealing With Multiple Offers" so I stopped to see what it was all about.

I don't know where that particular home was located, but it was probably California, since there were four offers on the home.  But if it was, I bet it was a re-run since California is especially hard hit with the sub-prime fiasco.  On to the story...

One of the pearls of wisdom offered by the listing agent featured on that show was in regard to buyers who are competing with other buyers on a home.  He suggested if a buyer wants to move to the front of the pack with multiple offers, agree to buy the home without an inspection.  I couldn't believe what I had heard! 

Remember, that listing agent is representing the seller, so sure, he would love to see an offer come in "as is" without an inspection.  If that home turns out to be a lemon and the buyer comes back to his seller for compensation, all the seller has to say is "You accepted the home in its current condition without an inspection.  We didn't hold a gun to your head to do it".  I would bet their real estate commission would back him and his seller up too, unless there was fraud involved.

The buyer, by waiving their inspection (and their right to terminate the contract if they find a problem), might very well have purchased a home with a roof, foundation, drainage, or even a mold problem.  The cost to repair those things could end up costing much more money than the home is worth.  For any agent, anywhere, to suggest to a buyer that waiving an inspection to move to the front of a line with multiple offers is, in my opinion, irresponsible, reckless, and unprofessional. 

Never, never, never buy a home without an inspection!  And remember, it's only TV!

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Tom Grisak Estate Homes Realtors, Inc - Texas License # 0329533