Waiving Home Inspections is a Dangerous Practice and Fewer Home Buyers are Doing it Now Than Last Summer
TAMPA, FLORIDA, UNITED STATES, February 4, 2022 /EINPresswire.com/ — Fortunately, the trend of anxious homebuyers waiving home inspections in the past year is slowly reversing according to National Association of Realtors (NAR) most recent report.
A summary of this report known as the Confidence Index Survey, is a compilation of REALTOR® transactions conducted by the National Association of REALTORS®, shows a decline in the number of homebuyers willing to waive a home inspection down to only 19% in December from a July 2021 high of 27%.
“The number of regrettable incidents and the rise in home prices, has given pause to this very risky trend,” said Dan Steward, President and CEO of Pillar To Post Home Inspectors, the largest home inspection franchise in North America. “The housing shortage of the summer months created a lot of competition among home buyers,” he continued. “This caused many buyers to carelessly waive home inspections and other contingencies rather than lose a home they wanted to other bidders.”
Regrets. There are many. But even one is too many Steward shared. “All one has to do is Google “I regret waiving my home inspection” to bring up many articles such as this one, published by Apartment Therapy about a couple who had to spend thousands of dollars in repairs after waiving their home inspection.
Many believe the rush to buy new homes during the spring and summer of 2021 was due to “pandemic panic” causing people to look for larger spaces or different states to isolate in with families. The inventory shortage of homes created a huge sellers’ market.
“We were developing innovative technologies before the pandemic and housing rush,” said Steward, and one of these newer technologies, PTP360 played a very big part in conducting “contactless” home inspections.”
The new services provided by Pillar To Post Home Inspectors have revolutionized home inspection with the seamless integration of new technologies designed to get Realtors to closings faster and save them time. The company’s new technologies include:
PTP360 is available with every home inspection and provides an interactive, 360-degree visual inspection summary that brings the inspection report to life and includes every room and a home’s exterior. It can be accessed anywhere, anytime from any device and shared with family or contractors.
PTPEstimates provides a cost estimate for inspection summary items. This upgrade is extremely useful for sellers who do a pre-listing inspection, letting them learn what recommended repairs will cost based on prices charged in their area. Estimates can be requested with one click.
PTPFloorPlan provides an accurate floor plan of the entire home. This useful upgrade can be used to determine furniture fit and placement, and also provide exact dimensions to contractors for estimating purposes.
PTPHomeManual is an upgraded service that provides a digital owner’s manual for a home, letting users download manuals/warranty information, find safety recalls on appliances, learn the age and useful remaining life of systems and much more.
Rhonda Sanderson
Pillar To Post Home Inspectors
+1 847-612-9829
Rhonda@sandersonpr.com
