With our housing boom, home buyers don’t have a lot of clout in today’s market. Unfortunately, to purchase a home, many buyers have to forgo protections like home inspections before purchase.
That doesn’t mean that if you don’t have an inspection, you have no rights. In most cases, it is the seller’s obligation to disclose major problems like with foundations, roofs, mold and pests. If a seller neglected to tell you about a major problem, you might be able to sue, but you might not.
Home sellers are required to give truthful information about home defects they know or should have known about. Most states, including California, do require home sellers to complete several disclosure forms describing their homes’ general condition. Home sellers can never deliberately withhold from potential buyers knowledge about their homes’ condition that could later pose problems, such as lead paint or termites. However, homes in states such as California are also presumed to be sold “as-is.”
Source: SF Gate
Even if your home purchase was an exception to the disclosure low (such as a foreclosure, a family transfer, a judgement, etc.), you can ask the seller to fix the problems, although you could risk them saying no and you could risk them rejecting your offer.
The best tactic might be to hire an inspector anyway. Factor anything the inspector finds into the offer, even with the competitive market. If you can’t afford to fix a home’s major problems, it’s not the home for you anyway.
Another tactic is to wait on what you can. If the roof still has a couple of years on it, or if the plumbing only clogs occasionally, you can gamble that the real estate market will continue to rise and that you can take out a home equity loan to fix the problems. If, however, the safety and integrity of your home is at stake (such as with foundation or electrical issues), it may be best to move on.
If you’re already living in the home, though, you are probably stuck because in California, homes are sold as-is. If you sell, you will have to disclose the problems to future buyers though. Some repairs might be delayed by hiring a handyman. For example, a foundation issue might just need a French drain. A roof might just need patches, as might some pipes. Even electrical issues could have bandaid fixes, but be careful.