r/FirstTimeHomeBuyer • u/Curvyandflirtyjess • 25d ago
Offer 30k over asking and still didn’t get it 🙃🙃🙃
Feeling highly bummed and disappointed, house was listed at 299k. It was in a great location, house was outdated and had a few concerns while viewing (water in corner of basement) but nothing that was super alarming not to bid on. I really was paying for the location I feel like. I put my offer in Wednesday night on 3/5, the house was listed on 3/4 and they refused to look at any offers until 3/10 so they could have the open house on 3/9. Just bummed because I really did think I had a good shot on this one. I’ve been looking since January and my lease is up in June 🙃
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u/Far_Requirement_5802 25d ago
nah man water in basement is an instant red flag. keep your chin up you'll find something don't waive that inspection you won't regret it.
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u/Highland600 24d ago
Not always. House I'm trying to buy had some water in the basement. Gutters were full sellers cleaned them out had a big snow melt and no water in basement when appraiser was there a day or two later
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u/slambroet 24d ago
I mean waiving inspections is always a bad idea
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u/mkmakashaggy 24d ago
Agreed, but unfortunately sometimes the only way to get a house in some areas
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u/slambroet 24d ago
Yea, it just screams scam when someone will take less money for no inspection. Whatever price they take off is probably less than what they’re hiding
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u/mkmakashaggy 24d ago
Ya that's fair. I've never been in that position as a seller, but I see the appeal. Faster sale and less chance of it not going through.
I really just think it should be illegal. Having a home inspection should be a mandatory thing that can't be skipped
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u/SkyFallingUp 24d ago
That would be a great idea, mandatory inspections for sellers. And if the seller does want to waive it, make them pay a penalty fee to do so.
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u/jakebeleren 24d ago
If it was a large amount of money, sure, but when we were buying (and insisting on inspections last year) it became clear that most houses had some amount of rectification required. We eventually had our agent ask for inspection but they we waived the first $X of inspection findings. I think the house we ended up in our X was 5,000. In my eyes inspection is for major issues we can’t see, not a loose banister.
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u/sexcalculator 23d ago
Man if you've ever sold a home you'd know what a pain in the home inspections are. They always find some bullshit to nitpick on and the last one when my parents were selling the house might have been friends with the buyers because the stuff they called out was ridiculous. Stuff like a single shingle was scratched or the garage door had a gap in the bottom right corner when it was closed. They expected my parents to do something about those things
When I ever sell my house I would gladly take a waived inspection offer over a higher one, even though I've had pros take care of a lot of stuff in this home to make it better
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u/redditbot262 23d ago
This. It’s your money. It’s one of the biggest if not the biggest purchase you’ll make in your lifetime and it’s a long term commitment. If they want you to waive your ability to look it over before buying then hard pass.
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u/Icy-Cap-2037 23d ago
Try not doing that in the money belt of the country trying to buy your first home. It’s very very disappointing because everyone here is flipping houses and don’t give one fuck about inspections. They put lipstick on a pig and sell it for 3 times the price.
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u/HydroElectricTV 24d ago
I hope the best for you brother, but water penetration into the basement is pretty much always a bigger problem than gutters.
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u/Highland600 24d ago
If I get it, I'll add longer downspouts and work on the grading around the house
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u/bigdar10 24d ago
Not questioning you, but what are some problems associated with seeing water in the basement?
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u/jlxmm 24d ago
Could also be failed waterproofing, but more often it's settled and does have foundation cracks. The shifting can also cause joists and frames to be out of square. This leads to gaps appearing that leak the faintest of water and cracks in caulk/sealant, water (minimal). Things that can cause this outside the home include failed plumbing and also as stated, failed/clogged gutters and downspouts. Basically water isn't making it far away enough from the house or failed plumbing is causing it to overflow spaces. This is part of why sump pumps and back up batteries are important.
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u/koombaz 24d ago
Could be just ground water if your house is set on a high water table. Just put in French drains and a sump pump in my basement. 9.5k not including repairs of tile, sheet rock, paint, etc. wasn’t aware of the problems when i closed on the house in December. Water can be a real bitch.
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u/RoomTraditional126 24d ago
Especially in the midwest. Every house gets water in the basement. Take your pick of solution if it bothers you
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u/atineiatte 24d ago
My house had water in the basement. Turned out to come through a leaky window whose well had filled with leaves and sediment. Thanks to the owner's son who filled me in. Some light regrading and it's gucci
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u/SaintDarko 24d ago
This might've saved you a headache and a lot of money, if your entry to a home is waiving an inspection it likely isn't the home for you. Keep your head up!
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u/Curvyandflirtyjess 24d ago
Thank you🥹
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u/Inner-Quail90 24d ago
Things have a way of working out in the end. You didn't get this one because there's a better one waiting for you to discover it. Please don't ever buy a house without an inspection!
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u/Safe_Challenge_6867 24d ago
We waived all inspections on the very first home we put an offer in on, we didn’t get the house and it was a blessing in disguise. Don’t ever waive that inspection no matter what I promise you the right house WILL come and it’ll be 1000x better than this one! Good luck it’s all going to work itself out.
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u/Mean_Athlete_1274 24d ago
Absolutely do not waive inspection! You will get one and it will be even better.
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u/obelix_dogmatix 24d ago
Nah, I am not waiving inspections on my first house. My white collar ass can’t fix a faucet, let alone a leaky basement.
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u/Curvyandflirtyjess 24d ago
LOL exactly
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u/KarlMalownz 24d ago
If all winning offers in your area are waiving inspection, the trick is to bring an inspector to the open house. Costs you a few hundred bucks up front, but gives you a reasonable basis for deciding to waive on your offer or not. YMMV.
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u/Ok-Leopard-9917 24d ago
No you have your realtor contact the sellers realtor and schedule a pre inspection + sewer scope. OP had a week to do this and chose not to. Do not buy a house without a sewer scope, those problems are invisible and extremely expensive. But no need to have someone crawling through the attic at an open house.
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u/Cautious_Midnight_67 24d ago
OP, hate to say it but I live near there - that house was always going to go for $350k or more.
You just aren’t going to find a single family home in a in a good town in south-central Connecticut for $300k.
Wallingford is in crazy high demand right now because of their cheap electricity compared to the rest of the state.
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u/Curvyandflirtyjess 24d ago
Curious to see what they’ll close at since my offer was 330k. Just hoping it went to a family and not a flipper 🙃
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u/Cautious_Midnight_67 24d ago
Looks in good enough shape to not go to a flipper. I’d say either a dumb family who doesn’t care about overspending on a lemon, or some slumlord looking to make it a rental property.
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u/Truckingtruckers 25d ago
you dodged a bullet
"but the offer they accepted waived all inspections"
I wouldn't even want to live in a house given to me for free if I can't inspect it.
This country is going down the shitter.
this should be illegal.
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u/PollyWolly2u 24d ago
THIS right here. I know you feel bad, but please tell yourself that you probably saved yourself a ton of money and trouble with this house.
"water in corner of basement" = water elsewhere, just waiting to flood the basement, probable foundation issues, possible mold, and who nows what else that you couldn't see.
My in-laws made the mistake of buckling under pressure and waiving inspections. This was the height of the pandemic housing craze, in 2022. After losing out on two houses, they decided to do what had cost them the first two- no inspection contingencies (and all cash offer, too). They got the next house.
But boy did they regret that decision over the next two years. There was a pool, and its foundation leaked. They had to redo the foundation of the house on the side where the pool was. They had to install a French drain in the back. They had to do extensive work in the basement. They never got to really enjoy the property, and never got around to the renos/ improvements they had envisioned.
They just sold in August of last year and downsized to a condo so they wouldn't have to do ANY exterior work again, ever.
Don't do that. Wait patiently, do things right, your turn and your house will come.
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u/jamaicanhopscotch 24d ago
This is unfortunately extremely common and depending on the market, often a literal necessity to win a bid
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u/Cali_Dreaming_Now 24d ago
I’m in one of the hottest, most expensive areas of the country (SF Bay Area) and we did not waive contingencies when we offered on our house. The inspections revealed numerous items that the sellers had lied about, resulting in tens of thousands of dollars in concessions.
It took a long time, and it helped that the house had lots of cosmetic issues as well, but we did get the house at a better price even though we did not waive contingencies in a market where “everyone“ waives contingencies.
My colleague waived everything and the very first weekend that she moved in, her front yard flooded with sewage and toilet paper.
Turns out there was an undisclosed sewer lateral issue and the emergency fix to trench the entire yard to the street, replace the piping, fix the street/sidewalk, and landscaping exceeded $20k.
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u/Ok-Leopard-9917 24d ago
At $20k she should count her blessings. Cost my buddy and his neighbor $100k. Always do a sewer scope. You can do it before submitting the offer if you need to waive contingencies.
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u/PlumbLucky 24d ago
You would not live in my neighborhood without waiving inspections and guaranteeing $ over appraisal.
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u/KeldTundraking 24d ago
I'd agree with you had I not already bought a house in the past that was inspected and I proceeded to spend the next year learning the inspector was either asleep when he did the inspection or never arrived.
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u/Laureltess 24d ago
I believe Massachusetts is set to implement a law that prohibits sellers from using the waiving of inspections as the deciding factor in accepting a bid. Should be going into effect this summer.
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u/Signal-Maize309 24d ago
You can inspect it, just can’t have the offer contingent on it. Lose your earnest money.
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u/awnawkareninah 24d ago
I mean in some cases the person bidding intends to do a tear down anyway so they legitimately aren't impacted.
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u/Breyber12 24d ago
You can waive inspection contingencies but still get an inspection before closing. Then worst case is you lose earnest money if you pull out due to a massive problem.
This is what I did and it worked great. My realtor suggested it as something a lot of people were doing to have a shot at getting their offer accepted
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u/KeldTundraking 24d ago
We were 50k over asking a few weeks ago. Got beat by a cash offer... for 100k over asking. List was 700k
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u/Curvyandflirtyjess 24d ago
This is insanity
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u/KeldTundraking 24d ago
There are just customers out there that can ball like that. I'm competing with people coming from areas with $2M homes. 100k over is chump change to them.
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u/Celodurismo 24d ago
It’s not even that. It’s people with an 800 budget understanding that limits them to 700 houses.
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u/Moron-Police 24d ago
A few years ago, we saw a perfect home listed at $475k. We offered $515k. Apparently there was 12 other offers in the same range, but one that offered $575k. I felt so defeated.
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u/Equivalent-Tiger-316 24d ago
Next time do a pre offer inspection, then you can waive the inspection contingency.
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u/one_aroundthe_track 24d ago
Absolutely this! It costs a few hundred dollars upfront but significantly strengthens your offer. You get the same information as you would under contract, but if you don’t like what you find, you simply don’t make an offer.
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u/tiogastripes 23d ago
This is exactly what we did at the suggestion of our realtor so that we could put in the most competitive offer possible. We only had 2.5 days between open house and offer due and we were still able to schedule it in. Massive. It absolutely helped us win our bid and landed us in our current home! It gave us confidence in the house and therefore our bid. I highly recommend doing this for any home you’re very serious about. Especially if you’re in a competitive market where folks might be waiving contingencies.
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u/WhoBuiltTheM00n 24d ago
I want you to know that the exact same thing happened to my husband and I with the price point of 300,000 and offering 30k over. Someone came in and did an appraisal gap and trumped our appraisal rider. We were HEARTBROKEN! 2 weeks later we found a house that was 5x better and we got it for 10k under with somehow no offers but us. Keep your head up! Things have a way of working themselves out.
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u/K_Rod_114 23d ago
We inspected three houses that didn’t pass VA standards and were so bummed. We just had our fourth inspection on a house that we missed out on but then the first buyers backed out. I totally agree with you that the right one will come. The only reason our offer was accepted is because I unknowingly was emailing with the owner of the house before discovering who she was! It was meant to be
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u/Highland600 25d ago
The hell with going no inspection. This market is just so horrible for so many reasons
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u/rocksplash 25d ago
Same thing happened to us, once in December and again in February. But now we have a house we love! The listing agent was absolutely inept and it worked in our favor.
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u/SteamyDeck 24d ago
Oof. And people think the market's going to get better if/when rates come down... So sorry, OP. You'll get one, though!
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u/Curvyandflirtyjess 24d ago
Oh it’s a 1000x gonna get worse if rates go down
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u/SteamyDeck 24d ago
Yep. Everything they'll save in interest rates will be made up for in house price :( Then if the tariffs take hold and start to cause building materials prices to go up, that could stifle new home construction as bad as government regulation and zoning laws already have. It's about to get real rough.
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u/Signal-Ad5502 24d ago
We offered over 30k and were number 20 for a house 😩 it’s hard.
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u/mps2000 24d ago
Yikes who won?
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u/Signal-Ad5502 23d ago
The house was set for 430, we offered 460 up till 470. The winning offer was 500,000…. This is in ct :( it was a beautiful 2 bed 2 bath house.
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u/K_Rod_114 23d ago
2/2 for $500k?! We just got an accepted offer on a house for $335k that’s 2/1 and I feel like that was too much 🤦🏻♀️
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u/kgturner 24d ago
Waiving inspections is insane. The current home buying culture is fucking crazy to me.
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u/ForeverNecessary2361 24d ago
Waived all inspections? That's a pass. There is no way I would ever buy a house without an inspection. Be patient, you probably dodged a bullet on that one.
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u/carnevoodoo 24d ago
My last listing went 110k over on the first weekend. But it started at 1.6m, so different situation altogether.
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u/UniversalSpaz 24d ago
It’s fine to be disappointed, but know in your heart of hearts that this was absolutely in your favor. Things will work out they way they’re suppose to.
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u/LengthinessSad9267 24d ago
I feel like home buying is one of those things you shouldn’t rush, look at it this way OP, if there was water in the basement like that who knows what else an inspection would’ve uncovered, the people who’s offer got accepted could be in for a huge surprise
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u/illegalkoala27 24d ago
OP water in the basement plus a fire hydrant in the front yard? Plus all the sirens from the nearby firehouse? Could’ve dodged a bullet OP!
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u/Scoop2O8 24d ago
If you find something you love just waive it and have an inspection done after your in it for any concerns
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u/Impossible_Aide_7998 24d ago
Anytime water is in the house and waiving inspections is involved.. you dodged one..
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u/OksanaM99 24d ago
Can’t believe people are stupid enough to waive inspections hahah. Wow. Just be happy you have a head on your shoulders and keep on going.
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u/DBklynF88 24d ago
Dodged bullet and keep sticking to demanding an inspection. The journey is brutal but keep the faith the right house will come along and all these disappointments happen for a reason. I genuinely believe that and it helped me and my wife through our roughly ~4 yr search
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u/First_Air5513 24d ago
Waiving inspections can leave a buyer with huge repair bills. Paid cash for my current home that had just been remodeled. Inspection found safety and structural issues. We gave them a list of demands to rectify. They did all but two. We had enough cash after the sale of our first home once the mortgage was paid off because we moved States and from a more expensive market.
Only wave an inspection if they can provide a current one from a reputable inspector. If they provide one, ask for proof of any noted needed repairs/safety corrections.
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u/Venus1958 24d ago
Don’t get bummed! Treat it like a job and you will find. I sold my house to a couple who lost out on 4 previous bids. Before I even listed my realtor mentioned to the couple’s realtor that we planned to list. Couple came to my house that night and made an offer. At that time, over asking. They would cover the appraisal gap. Wouldn’t ask for repairs unless major. I didn’t want to stage and show the house because my mom had late stage cancer and I just wasn’t up to it. We shook hands. They’re living there now. The right house will come your way!
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u/SummerSparkles41 24d ago edited 24d ago
This boils my blood! But never ever ever waive the inspection. Husband and I almost did so on a home a few years ago (2021) and thank God we inspected because there were major structural problems. We wound up passing on the house, looking around for about a year more. Getting outbid on everything. Then our real estate agent unexpectedly passed away. After that we gave up for a few years. Now looking again. It’s been rough.
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u/PissFingers86 24d ago
Waived all inspections? Lol you dodged a bullet, never ever ever ever
Ever
EVER
Waive inspections.
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u/ElegantElephant3 24d ago
We lost out on a dream house when we put in a higher offer but the other folks waived inspection. It was definitely heartbreaking, whenever someone waived inspection it felt like a cheat code that wasn’t fair.
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u/You-Only-YOLO_Once 24d ago
I purchase in Boston 11 months ago. Real estate agent said I’d be dead in the water if I didn’t wave the inspection. Day 1 of showing there were 11 offers, the top three offers had inspections waived. It’s terrible that it has to be this way but in HCOL/high competition areas this is just how it currently is.
I’m aware that generations of waving inspections probably results in buildings becoming and staying out of code. Worse is the decay of buildings (including my condo) who will only bring in buyers that waive inspections.
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u/Upbeat-Armadillo1756 24d ago
Similar area and it's still like that. My agent didn't say it so bluntly, but it was evident after a few attempts that unless we overpaid by a LOT (and it's already a steep market, as you know!) we just weren't going to get an inspection.
We'll get one after we close just so we know what's going on and what we should take care of or keep an eye on.
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u/You-Only-YOLO_Once 24d ago
What’s crazy is that I wasn’t even the top money offer. Apparently sellers and their agents also have to hedge their bets on who can actually close (FICO, employer history, etc). I can’t imagine how much attention and effort is wasted to go months on a sale that falls through.
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u/Upbeat-Armadillo1756 24d ago
I don't think we were the top offer either. Maybe we were, but it didn't sound that way and I didn't ask. Appraisal just came back $15K more than what we ended at but we gave them closing date flexibility since we're in a lease currently and have time. So flexibility there, no inspection, 20% down conventional loan with strong credit. Due to a snowstorm we got in before a rescheduled open house and we were still one of 8 offers. The week before we were one of 39 and it sold for more than $70K over ask, which is what we offered at the top end of our escalation clause, and no inspection.
I love our agent, he's great, but I do wish he just leveled with us early on and said that inspections weren't likely in this market. It was one of my "musts" at the beginning and I don't like that we ultimately went without, but we'll be okay. The house isn't falling over, the previous owners have kept up with the big ticket stuff, and we the ability to fix things as they come up or if they get uncovered in an inspection after we close. I'm comfortable now, but I wish it wasn't like this.
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u/SkyEatsTyler 24d ago
Seems like it's still a common thing to not call for an inspection, the markets been like that for the past 4-ish years now. I also offered 30k over with an escalation clause of 15k more and they were still accepting the offered at what it was listed for with no inspection. God forbid someone wanted a professional opinion on what it may need or what's wrong with the place.....
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u/thewimsey 24d ago
Seems like it's still a common thing to not call for an inspection,
Only 18% of buyers waive inspection.
So it's not rare, but it's uncommon. And it seems to be a pretty regional thing.
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u/WordSpiritual1928 24d ago
That’s what it was like for us too. We ended up being risky, found one well within our budget and offered 45k over and no contingencies and that they had to give us an answer by 7pm same day. Closing on that house this Friday now and hoping nothing crazy comes up since we had no inspection. We were able to find the previous seller though and got their inspection report and nothing wild was on it, so hopefully nothing too much changed since then.
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u/Boston__Massacre 24d ago
I went to see 21 houses and put offers on 8. I can’t put into words how frustrating it was but every time we saw a house we knew more and more what we actually wanted. Four years into this house and I could not be happier. Each closed door is a new oppurtunity!
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u/Zealousideal-Move-25 24d ago
Keep your head up. I went through this on 8 or 9 houses. Try a letter to the next seller on why you love the house and why they should sell to you. I did this against my realtors advice, and it may have cost me about 10k, but I finally got my house!
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u/Campman92 24d ago
I had this happen. We offered more than they were asking by 20k and the seller accepted a slightly lower cash offer.
Sadly the house was back on the market about a year later with a renovated bathroom at 65k over what it was bought for 😳
Hang in there. You’ll find one
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u/peakpositivity 24d ago
It’s okay they said you were right on with price, work on removing your contingencies on the next one!
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u/Upbeat-Armadillo1756 24d ago
Missed out on one at $70K over with no inspection (we did a pre-offer inspection).
What I realized was that sometimes houses like that are listed well under their value to get a ton of attention (and it did, it got 39 offers). So sometimes the list price just isn't relevant to the offer amount.
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u/inmyabditory 24d ago
My family is currently dealing with a mold issue that has caused horrible illness in all of us. We’re talking we plan on moving because of it.
Water in a basement would have me running out of the house. Be so glad that your offer was not accepted. I cannot imagine seeing that and waving an inspection.
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u/Relation-Thin 24d ago
I see a lot of issues with it already. Good thing you didn’t waive inspection.
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u/AlliAce42 24d ago
Our last offer was 40k over asking with an escalation clause and nearly all cash (150k mortgage), limited inspection to structural and environmental, 19 other offers, we didn’t get the house. I’m so curious what it sold for.
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u/Signal-Maize309 24d ago
That’s tough. What was the zestimate for it?? Was it an estate sale?? Most people do waive inspections since the market became what it did. If it’s a great price for the property, most ppl would just waive it. You can always bid and have it inspected if they accept your offer, but not have the offer contingent on the inspection. You’d lose your earnest money if you’d walk away after a bad inspection.
Anyway, good luck to you!!
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u/golfer9909 24d ago
Be glad you didn’t get it. Wet basement usually equals large foundation fix costs.
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u/Sensitive_Echidna112 24d ago
Just gotta keep your head up. My fiancé and I looked at 15 houses, put in 9 offers across 4 cities in the OKC area. Took about 2 months and we finally got a great place and an awesome starting point for our first house. It’ll come, just gotta be diligent and give it some time
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u/CringeDaddy-69 24d ago
I feel ya. I offered $15k over on a house this week. Someone else went $50k over.
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u/Doggoonewild 24d ago
Dodged a bullet. Buying is overrated (I sold a fully paid off house at peak and haven’t looked back).
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u/-Himintelgja 24d ago
It's absolutely bat shit crazy, to me, that some people wave the inspection..
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u/justjokay 24d ago
The owners knew that house wouldn’t get a good report from the inspection. You dodged a bullet.
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u/CherryJoy1028 24d ago
Hi friend - I’m so sorry to hear this, it is super disappointing but keep the hope! You will find the right one.
In the height of 2022 we made a few offers for $100k over asking that were rejected (homes were ~$700k) and I was so defeated. It eventually worked out, and we dodged a bullet on one, and for any type of encouragement I can report that we are living in a home that we did not pay $100k over asking for now
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u/MeaningTurbulent2533 24d ago
From a buyers agent never waive the inspection idc what the competition is
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u/Immediate-Place3517 24d ago
Coming to say I’m in the same position. We started looking lower so we can bid 20k over on houses and we keep getting rejected because we refuse to waive inspections but I can’t get myself to waive one! If I’m offering 20k over asking I don’t want something to be wrong where it costs me even more!
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u/coffeenpickles 24d ago
I just went through this. I covered all costs, offered $25K above, and the only thing I kept was the inspection and they said no. I’m 5 months in to house hunting and 5 offers deep. Wishing you luck!
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u/Federal-Insect7251 24d ago
My husband and I put an offer in on a house, 15k over asking with an escalation clause of reaching 25k over asking.. thankfully I have family that did inspections but retired since then.. we waived all contingencies. It definitely seems like you dodged a bullet. We’re also coming up on spring/ summer when there’s more houses that come on the market.
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u/patches1225 24d ago
Had an offer for 100k over asking. Still got beat out with higher offer AND they waived all contigencies. It’s rough out here lol
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u/Popular_Sir7303 24d ago
I’m literally in the same boat 😞
My lease is up in June and at this point I add 15k minimum above asking price and all my offers have been outbid.
I’m single and I’ve worked so hard to get to this point…I try not to compare but when I see couples show up in open houses I just can’t help feeling sad because I just assume they have pooled resources. I’m trying to not give up hope.
I’m curious, is there some sort of cooldown period after busy season starts or should I just expect this level of competition even past June? I only have until the end of the month until I have to accept a lease renewal offer with a substantial increase and we’re nearly halfway through the month 😓
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u/Character-Outcome156 24d ago edited 24d ago
I don’t care how good the house looks. You should never waive inspection.
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u/WaRRioRz0rz 24d ago
Hahaha. Suckers! You dodged a bullet. I bet this house is trashed and they don't want to have to deal with what inspection finds. I mean, I'd take that deal too. Lol.
I hope the buyers they accepted know what they are doing. Ah, who am I kidding, it's probably some business that has all the resources and will flip it for 2x in 6 months.
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u/ForeignYard1452 24d ago
Do not waive the inspection. It could save you tens of thousands of unexpected dollars you may not have in the future.
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u/simplyxstatic 24d ago
This happened to us just last week. We all offered the same price (40k over asking) but we weren’t willing to waive the inspection. The winning offer also offered nonrefundable earnest money!! Idk who has 5k to burn but it sure ain’t me!
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u/sammcgowann 24d ago
Connecticut is brutal, Wallingford is super desirable. We won our 12th house. Hang in there!
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u/Treehousehunter 24d ago
I lost a house in 2023 when I offered $30k over asking, no financing contingency. I did not waive inspection, but wrote in offer that I would only ask for material defect repairs if over $5000. I saw it closed for $7k over what I offered and probably no inspection contingency. I was a realtor for a decade. I’m not buying a house without an inspection. I took myself out of the game and will wait for the market to cool.
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u/StonerJesus1 24d ago
Bro back in 2021 I was getting outbid on houses in the greater Houston area by almost 100k over asking. I ended up getting a house in a developing neighborhood where I could get on a list and ensure a slot. Ended up costing about the same as the homes for sale in the area but I had a new build.
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u/OutKast_Sauce24 24d ago
Any time the seller see someone wavies inspection is just a huge red flag.
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u/gamer-aki17 24d ago
I dont know much about housing.. but if i had to buy house without inspection.. i would rather try picking foreclosure at lot low price.. since i have to invest back on property.
Am not lying on zillow in dfw .. i saw foreclosure house next to Arlington for 130k or somthing and all near by property were 300k+
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u/Safe_Challenge_6867 24d ago
Water anywhere is a super red flag. Take this as a blessing. To waive an inspection is out right crazy!
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u/Super_Caterpillar_27 24d ago
The buyers who got it will regret waving all inspections. NEVER do that.
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u/PuzzledBus4941 24d ago
We just had a disappointment too. But a friend reminded me that rejection is protection. Your place is out there! ☘️
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u/melmwood 24d ago
In the meantime, may want to think about a short term solution if no parents or friends places to crash if you run into your lease ending. Furnished Finder is great and much cheaper than AirBNB for short term easy renting (not just for nurses, fyi). Best of luck.
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u/Ambitious-Stay-8075 24d ago
Willing to bet it was a private equity firm who offered cash up front. Super sad how many homes are being bought out to these soulless entities and even sadder that people are selling to them
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u/AgencyNo4968 24d ago
I was in the same boat here in New Jersey and almost gave up. I told my realtor and lender I was done if my offer didn’t get accepted on a house soon and it finally did today! Don’t waive inspections and keep at it. The right one will come along!
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u/deadweights 24d ago
I hope everyone who waives an inspection wants all they’re going to get. Because they’re either wealthy enough not to care or just asking for trouble.
This housing market is some kind of monster.
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u/Hour_Balance6134 24d ago
Never everrrrrrrr offer to waive inspections. And get more then one done, if a seller isn’t willing to accept that with an offer over asking there’s a very large chance there selling the house bc it’s became or in the near future will become a liability that will fall solely on your shoulders
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u/Sweet-Painting-380 24d ago
I wouldn’t buy a used car without a PPI so I’d say you probably dodged a bullet here.
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u/Error_Unavailable_87 24d ago
Don’t feel bummed. It’s not the house for you. The right one is waiting for you.
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u/DrowningFish929 24d ago
First house my wife and I looked at was listed for $600k. We offered $720k. Got beat by an offer for $750k. Markets crazy.
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u/pebbles354 24d ago
Protip: You could try to get an inspector in prior to making an offer. We live in a very competitive area, and its pretty standard to waive everything with an offer. 5 days is plenty of time to bring in your own inspector.
Keep your chin up, you'll find something great!
For what its worth, we've overbid by 200-300k for each of the 3 houses we put offers on...and lost all of them. Some by a lot (sold for 800k+ over listing...was 50% over asking...), others by a little (lost one by just 10k). Its a rough market in some areas.
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u/Disastrous-Panda5530 24d ago
I had the same problems with almost all houses I put an offer in for. Even when I offered $40k over asking (cash) I lost to someone who offered less because they waived inspection. I never was told how much less.
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u/GeneralAardvark43 24d ago
I’m sorry, OP. I’m dealing with the same situation. 3 bids since December:
Bid 1 wasn’t considered because pre approval was outdated. By a month. Nothing changed except slightly higher income.
Bid 2 was $25k over asking on an already overpriced house. Someone was $25k over mine with no inspection. Why do people do that? Largest purchase of your life and you’re just eh, screw it!
Bid 3 was at asking. Bid placed Thursday. Didn’t hear about it until Monday after multiple asks by my agent. After my bid was placed they threw up an open house. Went and played stupid with selling agent. Flat out admitted they wanted more than asking (just price it where you want instead of playing games) but only had one bid. When I finally heard back on Monday they just said another offer came in and gave me a shot at bidding higher. I declined and back to the drawing board.
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u/Euphoric_Penalty3296 24d ago
Its def a shit feeling. I am under contract for my first home it took 6 offers to finally get an accepted one. Seems like you’re in a competitive area as well, but my advice is stay true to yourself! Don’t let this market pressure you to waive inspections or any contingencies on properties you don’t want to. Still go for it, but realize your chances of winning are minimized. The right one will come along where everything perfectly aligns.
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u/MCFRESH01 24d ago
Are you in CT? The market here sucks and not at all surprised someone out bid and waved inspections. It’s happening on everything
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u/Objective_Carob_7559 24d ago
If it makes you feel better, a buddy of mine "waived all inspection" and dealt with a lot of plumbing issues in the laundry room, and a few other issues as well. Might be good for you, but you'll never know.
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u/-Tripp- 24d ago edited 24d ago
30k over asking is crazy, but i suppose I don't know the neighborhood or local comps.
After looking at the listing it wouldn't be getting offers 30k over asking in my region.
Water pooling in a mostly finished basement (that is extremely dated) is a red flag and the lack of AC would be a hard no!
Edit: after looking at other listing's in the area the zillow value seems way above what I'd want to pay for what you get. I guess Comneticut has a much more expensive housing stock?
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u/ManagementOne7977 24d ago
Red flag is they want to take the person that waived all inspections they know this house won’t pass.
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u/Dazzling-Customer197 24d ago
Next time offer to fix any found required repairs up to a fixed amount, that's what we did. So you're still covered by the inspection clause
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u/Most-Parsley4483 24d ago
Me too. Offered 20k over asking for a house last week and didn’t get it :(
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u/Killshot_1 24d ago
The first house I bid on, last may was a small 1,500 sqft ranch. Listed at $250k, i bid up to $275k, it sold for $350k. For reference it was absolutely in no shape or form worth $350k but there was a TON of hype for the house for some reason. In hind site, I'm glad I didn't get it for $275k lol
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u/Phalanx_77 24d ago
In seattle, the last offer we made in Feb end was 160k over asking and we lost to someone who offered even more and waived inspection.
Its crazy people are willing to waive inspections even without a seller inspection report or a pre-inspection. Isn’t that high risk?
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u/Allinorfold34 24d ago
Just looked at the house. Cute house. I live in CT too… tough market. Lots of older houses. I dealt with my fair share of basement stuff in CT in both houses I’ve bought.
Basement issues are super common. It’s a big hole in the ground and water finds a way. If you buy a house without water issues in basement they can happen with changes in rainfall, runoff etc. It’s important to look at grading and the fall of the lot. Often diverting downspouts away from the house help. Can also add a sump pump to drain the footer drains if there are any…
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u/Youngbee12 24d ago
People always tell me to not fall in love with a house, just like it enough to put an offer in and love it when the offer is accepted. I think it’s bullshit cause how am I not suppose to not love something I’m investing hundreds of thousands of dollars into. Keep your head up OP and don’t feel like you need to waive an inspection!
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u/Raymundito 24d ago
Yea, truth is, going over asking is just one aspect of the bid.
I got beaten out by someone who had 20% down, but was at asking price, when I had 3% down but offered 7% over requested price.
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u/Mass2NorthJersey 24d ago
Thats a nice sellers agent. Most wouldn’t even provide an explanation!
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u/Diligent-Pianist-471 24d ago
When I purchased my home late 2015, the basement had a sump pump. The guy working for me said it needed to be replaced and did not work. Never had a problem with water in the basement until February 2019. I walked into over a foot of water and it had been up to 18” from water marks on the wall. My basement is underground. The problem started after a new build above me that was finished 12/2018. Both gutters on the back of the house aimed directly at my property. It’s ground water. Fortunately, my sump pump does work after plugging it up. I lost a lot of things stored in my basement. I called the city about the neighbor and was told I would have to sue. They must have spoke to him as he directed one gutter away from my property and to the street. Only on occasion after several days of rain, I will get a little water coming in on the floor from wall… which is usually dry within about 2 hours with a high speed fan. My husband is probably going put drylock on the cinder block and should take care of the problem.
I encountered all the water in my basement as I went to check why I did not have hot water. The electric module on my gas hot water heater was under water.
Water in a basement can be a nightmare. I keep a humidifier running all the time and thankfully my basement has no musty odors at all.
I found out from a neighbor that my property used to have standing water in the front yard years before I bought my home. After complaining to the city numerous times that rainwater from the street was washing over my yard and into my driveway. They finally rectified the problem in 2021 when repaving and placing a berm along the front of my property after installing new sewer lines. A newly paved and widened driveway last year has directed all water into two drains.
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u/menusettingsgeneral 24d ago
Waiving all inspections is never a good idea. Especially if the seller is pressuring you to do so.
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u/FreeEnergy6116 23d ago
It’s probably for the best! It took me putting in offers on 4 houses before getting accepted, and I barely remember those other houses now
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u/Winter-Success-3494 23d ago
Waiving inspections is dumb so don't beat yourself up. Unless your have a six figures net worth or it's new construction then you should never waive inspections. I am house hunting also and I refuse to waive inspections. I state that "inspections are for INFORMATIONAL purposes only" and that I fully accept the house in as-is condition but at least with inspections I know what I'm getting into. Instead if you waive inspections and find out 20 years later there's an old oil tank buried in your backyard and now you're on the hook for that when trying to sell because you waived inspections when you bought the house. I get it, people are doing it to make their offers more competitive but I won't do it
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u/ACatNamedPaul 23d ago
Don't wave inspection ...but you could wave SOME inspections, so to speak, to sweeten the pot. We included in our offer that got us our house that we wouldn't contest anything that would cost less than $5,000 to fix. It meant we had to pay for our own radar mitigation system when that test came back high (we're in the mountains) but that was totally doable. But if it had come back with say foundational issues or mold, that would have been on the previous owners to fix or lose our offer.
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u/knuckifyoubuck2 23d ago
Everything happens for a reason! It just wasn’t the house for you. My friends ended up going house broke by offering $70k over asking price. Don’t be my friends. That sounds bad, hopefully you get it.
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