I would appreciate some advice on this situation, because it is so odd. We are selling our home and it received an above listing price offer very quickly. However, we were more than surprised to hear that the buyer doesn't want a home inspection and doesn't want home warranties.

Why would someone do this, and does anyone have advice when dealing with this sort of situation? We are extremely worried about opening ourselves up to liability should anything ever go wrong. Our agent gave them waivers, which they signed, however the whole idea just worries us. Quite frankly we just can't think of a legit. reason why a buyer wouldn't want a home inspection, especially on a property that they are paying over asking price for. Any ideas or ways to further minimize liability?

Thanks!

I assume by your name you are in California.In California some properties are going over asking.

With multiple offers waiving inspection is a way to win the property.The buyers take a gamble that nothing will be wrong with the property.The buyers can still get out based on a finance contingency if it is in the contract.

Even if the buyer is purchasing "AS-IS" that does not mean you the seller do not disclose "adverse material facts" you know about the property.It simply means you aren't fixing them or paying for them.

If you filled out a sellers property disclosure make sure you answered truthfully and honestly.If you don't know and answer put don't know.

Buyers have their (right to their own inquiry) meaning items in question they should investigate further.If it ever came before a judge the judge would say the buyers had a right to inspection and they chose not to so they cannot claim damages.

So as long as you were honest in disclosures and you have the waivers signed you will be covered.

no legal advice

Thank you. Yes, I know no one can provide legal advice but an attorney, but I was curious as to the norm. in this type of situation, and what the buyer might have been thinking in offering to waive the inspection.

Thank you for the insight. It was very helpful and appreciated.

It's certainly not typical, but I do see that on occasion. Often those are the investor/contractor buyers. Or they brought their contractor/inspector with them when they first viewed the house, and determined that it met their needs before putting in an offer.

Aside from that, Super's pretty much got everything covered above.

As a buyers agent I have paid for my buyers inspection (they selected inspector, not I) if there seemed to be hesitation to get an inspection.
If I was the listing agent working with the buyer, I'd sure have my disclosures covered.

Cali, perhaps you can tell us more about the circumstances. For example, if the property is a 3 year old luxury condo that appears to have been well-kept and shows pride in ownership, then perhaps you could see why a buyer may be inclined to forgo the inspection (balancing cost to repair minor things versus the cost of an inspection). From a seller's perspective, I wouldn't necessarily worry about liability issues as it would be difficult for the buyer to prove wrongdoing on your part when they (the buyer) were giving ample opportunity to perform due diligence and they opted not to do so (with addenda/waivers to prove). Best of luck.

Thank you for all the replies so far. Things are moving forward with the buyers.

The house is ten years old, and in what is considered an upscale neighborhood (gated community and a good school district). We bought it as a spec home ten years ago, and renovated over time. So the house has top of the line finishes (granite counters, top of the line appliances, hardwood through out, upgraded bathrooms). It has been extremely well maintained and that shows.

When it first went on the market we had a full price offer within 24 hours, but that fell through right before home inspection (they didn't like the street our house backs onto). However the appraisal was done, and the house passed pest inspection with flying colors. With in three days of going back on the market this offer came in over asking.

As was suggested the disclosure paperwork was gone over again, and the waivers signed by the buyer are in order. It just seems so unusual not to want an inspection! As a dedicated viewer of Holmes Inspection on HGTV, I just cant imagine a circumstances where a buyer wouldn't want one!

Caveat emptor. Let the buyer beware. As long as you are not knowingly concealing a latent defect, then the buyer will have no recourse later on.

Seems like you have found a dream buyer. I know the response if it seems to good to be true...however maybe everything is just fine.

Also seems like your agent is doing everything right. I know selling a home is stressful, but try to relax.

Perhaps the buyer has plans to rip it down or do major renovations to the property. Thus doesn't need the extra expensive of an inspection or home warranty.

Unless you are hiding something about that property I doubt you should have something to worry about.

From what you have said you are in a really hot market.Not all markets are bad in the U.S.

It sounds like to me simply that they didn't want a bidding war and wanted to win the property so they said to forgo the inspection contingency.

If you are not in a market like this it is hard for other brokers/agents to understand it.