Changed my mind about waiving the home inspection after nearly losing $8k

Found a cute little bungalow in Portland after months of looking and the seller's agent kept pushing us to waive the inspection to beat other offers. I was this close to doing it because I was tired of hunting and just wanted a house. My realtor finally talked me down saying it was a bad idea but I didn't listen at first. Then I got online and read a story from a guy who skipped the inspection and ended up with a cracked foundation that cost $15k to fix. That freaked me out enough to stick with the inspection and sure enough they found knob and tube wiring hidden behind the walls. The seller ended up knocking $8k off the price to fix it. Anyone else have a moment where they almost made a huge mistake on a house?

3 comments

3 Comments

caseywalker1d ago

Knob and tube wiring is actually pretty common in older Portland homes, not exactly some hidden nightmare like a cracked foundation would be. Still smart to have caught it and negotiated down though.

barbaradavis1d ago

Honestly, knob and tube is more of a headache than a dealbreaker for me. Getting a credit from the seller for it is the smart move like @caseywalker mentioned. The real nightmare is finding out the plumbing is garbage after you move in.

joseph_green131d ago

1900s era knob and tube, like you said, is pretty standard in these craftsman bungalows. Did your inspector actually find any active issues with it, like splices buried in the walls or insulation touching the wires? I only ask because a lot of times people see it and freak out without checking if it's even been decommissioned properly. It's a $5,000 headache if it's still live but a $500 one if it's just dead wire.