Can buyer successfully sue seller to get out of a deal if

amother

Wed, Aug 02 2023, 10:26 pm

Is there some legal way buyers who waive inspections, protect themselves?

Can a buyer successfully sue a seller to get out of a deal, if sellers disclosure doesnt show a house's major flaw, even if seller was unaware of it?

(edited)

The last few houses I bid on, that were expensive, I lost to bidders who waived inspections.

Buyers who waive inspections are MORE interesting to sellers than higher bids.

Do these buyers who waive inspections come to see the house with a contractor so theyre not getting into problems, or do they just take a chance that theres no major problems with the house?

Am I missing how these buyers know what theyre getting into without doing regular inspections?

tia

amother

Narcissus

Wed, Aug 02 2023, 10:38 pm

Not in lakewood but my friend waived inspection and a few months later the roof fell in. Maybe those people are planning to tear down and rebuild so it doesn't matter to them.

Rubber Ducky

Wed, Aug 02 2023, 10:57 pm

As a buyer, I would not waive the inspection unless I was planning to tear down the house. As a seller, I would take a lower price and sell "as is" to avoid complications.

Over 20 years ago, we made an offer above the asking price on a house, but with an inspection. A second bidder offered exactly the asking price with no inspection. The seller accepted our offer. That's our house. We still live there.

amother

Royalblue

Wed, Aug 02 2023, 11:04 pm

Very common in today's market. I had to waive inspection and mortgage contingency, and there wasn't even a bidding war. The brokers teach this tactic to the sellers. It's a Sellars market.

amother

Wed, Aug 02 2023, 11:51 pm

Can a buyer successfully sue a seller to get out of a deal, if the sellers disclosure doesnt show a house's major flaw, even if seller was unaware of it?

Is that the trick people depend on?

If theyre not depending on suing a seller to get out of a deal, if the sellers disclosure doesnt show a house's major flaw, then theyre risking having hundred(s) of thousands of dollar losses, so it has to be.

Ellie7

Thu, Aug 03 2023, 1:43 am

It’s a giant risk. (One of the reasons I don’t own a home.). But as far as I know, there’s no trick. Otherwise, why would it be so attractive to sellers?

Iymnok

Thu, Aug 03 2023, 3:55 am

People who do house flipping are planning to renovate anyway, so they prefer to buy as is. They have their own guy to assess what renovate needed, then they sell it.

amother

Ghostwhite

Thu, Aug 03 2023, 4:58 am

If you're a professional, you have a good idea of what you're looking at and can identify potential issues, so it's less risky. For most home buyers, we can't do that and it's a bad idea. I get you want to buy your house, but if 3 months later you discover some major structural defects, then you're stuck and it could have been avoided.

Chayalle

Thu, Aug 03 2023, 8:49 am

We found out (from an inspection) that our house had a certain flaw, and we renegotiated the price of the house (we could have successfully backed out of the contract otherwise) with the help of our lawyer.

I guess it's a seller's market now, though. Wasn't the same 5 1/2 years ago.

(I don't know if the seller was aware of the flaw or not. Though I think they had to have been. It was misrepresented in the contract.)

amother

Green

Thu, Aug 03 2023, 11:29 am

When I was buying a house we had an inspection and the seller told us that it's as is.
It was good to get the inspection anyway so we knew what we were dealing with.