Profile picture for gquiring

Buyer made offer with no inspection but what will the bank say?

We have our house listed with an agent but a buyer showed up without an agent.  We let them in to look around and they made me an offer including no home inspection.  They are getting a mortgage so will the bank insist on a home inspection? 
  • May 28 2012 - US
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (7)

inspections are for buyers, appraisals are for banks. you are right
  • October 01 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for user568155
You are legally obligated disclose home defects.  If there are termites in the garage or the oven doesn't get as hot as it should or sitting on the toilet feels the same as sitting in a rocking chair (you get my drift), you MUST disclose these defects to the potential buyer.  If you are trying to avoid a home inspection for fear of what the inspector might uncover, you should be more afraiid of the buyers discovering what you didn't disclose after they close.  That will be an expensiive lawsuit....
  • October 01 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Shannon is correct, the only time a lender will require a home inspection (or something to that affect) is if the appraisal shows damages/ deffects.  if the appraisal comes back as is, with no visiable damages/defects then the lender will not require any thing further.
  • May 29 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Frieda Triebel
The bank will require an appraisal.  The buyers' attorney may insist on a home inspection as a condition to the contract.
  • May 28 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Shannons response is a good one. Inspections are for buyers and appraisals are for banks.
  • May 28 2012
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for SoCal Engr
I'd really like to see a response from a lender.
  • May 28 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

No the bank won't insist on a home inspection.  As long as it passes on the appraisal then you will have no problems.  There is certain criteria that the buyers financing appraisal guidelines that it will have to pass.  Fha, everything has to work.  If you have a refrigerator that is in the contract it has to work.  Roof has to have so many years of life left.  All appraisers are different and will call out certain items where others won't. 
Actually if the buyer is going VA then there has to be a termite inspection and if you are on well and septic, Fha requires a well and water test. 
Good luck with your sell.
  • May 28 2012
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.