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What Happens if the Inspection Contingency Expires on a Home Offer?

HomeLight

For this reason, most contracts contain an inspection contingency clause. But what happens if the inspection contingency expires? If this contingency period lapses before you’ve finalized your decisions, will you lose your deposit? Get Started How does an inspection contingency work?

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Pending legislation would end home inspection waivers in Massachusetts

Housing Wire

The bill essentially negates as a negotiating tool the waiving of the home inspection contingency , which makes an offer for a home contingent on the results of an inspection. Goodman offered some insights into the the home inspection business and individual inspectors via the following datapoints. and Canada.

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20% of Winning Home Offers Waived the Inspection Contingency in June, Up From 13% Last Year

Redfin

of successful offers submitted by Redfin agents in select major U.S. markets waived the inspection contingency, compared with just 13.2% Winning offers waived the appraisal contingency at a similar rate—20.6%—up The situation is out of control,” said Lindsay Katz , a Redfin agent in Los Angeles. “I In June, 19.9%

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Top 10 ways to get homebuyers to work with you

Housing Wire

Ensure a smooth closing process Work with all parties to get final removal of any financing and inspection contingencies, help your buyers navigate the pre-closing walk-through and help them review the closing documents. All of these action items are things that professional, experienced real estate agents should practice already.

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How much cash matters in a bidding war

Housing Wire

And waiving the financing contingency is the second-most effective bidding-war strategy, Redfin officials said – improving homebuyers’ odds of winning by 66%. It’s important for buyers to sweeten their offer in any way they realistically can,” said Rachel Wilson, a Redfin agent in Spokane, WA.

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5 Things Homebuyers Need To Know When Making an Offer

Keeping Current Matters

A skilled agent will do everything they can to help you stay on top of every possible opportunity. And, as soon as you find the right home for your needs, that agent will help you draft and submit your best offer as quickly as possible. Just remember, there are certain contingencies you don’t want to forego. Bottom Line.

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5 Tips for Making Your Best Offer

Keeping Current Matters

After you’ve worked with your agent to find the home that suits your needs, they’ll help you put together and submit your best offer as soon as possible. Agents are experts in the local real estate market. Having an agent to help craft a strong, fair offer is critical in these situations. Recent sales trends in the area.