Q: Marsha, I just went into escrow on a 1972 three-bedroom two-bath home in Goleta. It’s a beautiful remodel. The roof is new, and the electrical and plumbing have recently been upgraded. I’d like to save the home inspection cost for other house expenses. My Realtor is insisting I get an inspection. What are your thoughts?
A: I empathize with wanting to save money. When you purchase a home, it feels as if everyone has their hand out for money. However, how will you feel if after you purchase the home you discover the electrician, plumber, or builder did substandard work? Will the money seem well spent then? Have you heard the saying “penny wise and pound foolish”?
In California, a buyer generally has 17 days in which to conduct all the physical inspections they choose. A general all-encompassing inspection will cover the structure, the exterior, electrical, plumbing, roofing, and insulation. These systems may not be obvious or even noticed by the buyer. The physical approval of the house is a contingency of your sale. If you aren’t happy with the home’s condition, you’re entitled to cancel the contract and receive your deposit back.