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

5 reasons buying sight unseen isn’t as risky as you think

Inman

Agent Opinion Select Service 3d tours as-is offers buying site-unseen digital open houses financing contingencies homebuying homes.com inspection contingencies making an offer working with buyers

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

How to execute an effective walk-through inspection

Inman

A walk-through inspection won't uncover everything a full inspection would, but it can still help reduce buyer risk in a hot market. Here's how to make the most of it.

5 reasons buying sight unseen isn’t as risky as you think

Inman

Agent Opinion Select Service 3d tours as-is offers buying site-unseen digital open houses financing contingencies homebuying homes.com inspection contingencies making an offer working with buyers

The advantages of a pre-listing home inspection

Realty Biz

Homeowners who’re looking to secure a quick sale might want to take it upon themselves to do a pre-listing home inspection with the aim of speeding up the sales process. Sellers that opt for a pre-listing inspection will be informed of any issues with their home that might impact its value.

Why you shouldn’t waive the home inspection

Realty Biz

need one or two things to be patched up, with 86% of all home inspections turning up some kind of problem, according to a study by the home improvement website Porch.com. Besides making a higher offer, some buyers are also waiving the home inspection to make their offer stand out.

What Does a Real Estate Agent Do? The Benefits of a Buyer’s Agent

HomeLight

You may wonder, what does a real estate agent even do? According to the National Association of Realtors®, 88% of homebuyers purchased their home in 2020 through a real estate agent , and for good reason. Real estate agents are essential advocates through the homebuying process.

How Real Estate Agents Can Help Home Buyers Navigate Emotional Decisions

McKissock

That means it’s often the real estate agent’s job to ease their minds and lighten the situation. As of 2020, a whopping 88% of home buyers relied on the help of a real estate agent to get them through the process. As the real estate agent, it’s your job to assuage these fears.

5 Tips for Homebuyers Who Want to Make a Competitive Offer

Keeping Current Matters

Listen to Your Real Estate Agent. As soon as you find the right home for your needs, be prepared to work with your agent to submit an offer as quickly as possible. There are, however, certain contingencies you don’t want to forego.

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%. When there’s a bidding war, cash is king.

Win Bidding Wars: How to Write Offers That the Seller and Listing Agent Will Love

HomeLight

You need to write offers that tell the seller and listing agent three things: your offer has the best terms. Sarita Dua is a top agent in Portland, Oregon who’s been winning bidding wars all year long — including seven straight in a single weekend.

Buyers are sweetening the deal by waiving contingencies

Realty Biz

With home buyers facing tougher competition this year amid ongoing housing shortages, some are trying to gain an edge by waiving contingencies to make their offers look more enticing. Redfin said this week that almost 20% of successful offers submitted by its agents in June in select U.S.

How to Win a Bidding War: Write Offers the Seller and Listing Agent Will Love

HomeLight

You need to write offers that tell the listing agent your offer has the best terms, lowest risk, and is most likely to cross the proverbial finish line. In part two of our Walkthrough series on winning bidding wars, Sarita Dua continues her explanation of the 3 C’s of winning bidding wars (confidence, communication, and creativity), how to beat an all-cash offer, and how to write offers that the listing agent will love. HomeLight’s Agent Resource Center.

HomeLight Trade-In: Why Homeowners and Agents Love Real Estate’s “Easy Button”

HomeLight

Sale contingencies are frowned upon. Come join us to connect with other listeners, connect with the guests that you hear on the show, learn from other agents and share your knowledge, get exclusive content, influence future episodes, and more. HomeLight’s Agent Resource Center.

Negotiating After the Home Inspection: 8 Tips to Get the Best Deal

Redfin

Once you’ve had your offer accepted, the home inspection is one of the final steps to navigate before you can close and move into your new home. And good on you for including an inspection contingency in your offer. Stay flexible when negotiating after a home inspection.

Banging Down The Door To Home Ownership

The Living Room

Releasing earnest money either upon mutual acceptance or after the inspection contingency is waived. Aryne + Dulcinea Buyer First Time Homebuyer competitive offer how to write an offer multiple offers Portland Real Estate Market Seller Market top rated portland real estate agents

The Most Common Home Buying Real Estate Contingencies

Realty Biz

Contingencies in Real Estate Explained. Do you know what a real estate contingency is and how it works? Real Estate contingencies are when some defined action or outcome must occur before a contract becomes legal and binding. Home Buying Contingencies Explained.

More buyers waive the home inspection to get the deal done

Realty Biz

With buyers facing increased competition for what few properties are on the market, some are choosing to waive the home inspection. In June, around 20% of successful bids submitted by Redfin real estate agents in the U.S.’s Home Buying home inspection home inspector

Can You Sell a House As Is Without Inspection? A Reality Check

HomeLight

Selling a house “as is” without inspection is the definition of driving a hard bargain. As for whether you can sell a house as is without inspection — the answer is yes, it’s possible and does happen. Why ‘as is’ doesn’t always mean no inspection. The downside of no inspection?

Contingent vs. Pending: Real Estate Lingo Explained

RIS Media

When your real estate agent puts your home in the multiple listing service, it will have an “Active” status. ” There are other statuses in the MLS listings like “Pending,” “Contingent,” “Coming Soon” and “Expired.”

The Top 9 Contingencies to Consider in Your Offer When Buying a Home

Redfin

Before you do, take time to consider all the potential risks and home-buying contingencies that will help protect you as a buyer. Though you can technically add any contingency you want to an offer, here are the 9 most common homebuying contingencies to consider.

What to Do If You’re Selling Your Home and an Inspector Finds Several Problems

RIS Media

Buyers usually have a house inspected before they proceed with a purchase. The exact language related to a home inspection contingency can vary from one contract to another. Ask Your Real Estate Agent for Guidance.

Buying Your House With Cold, Hard Cash? Here’s Your Step-by-Step Guide

HomeLight

The share of all-cash home buyers has declined since 2014 because, “money is cheap right now with low interest rates, so some people who could buy in cash opt to buy with a mortgage,” says Sherry Ludecker , a top-rated real estate agent in Johnson City, Tennessee. Choose a settlement agent.

Home, Sour Home: How Homebuyers Can Avoid a ‘Lemon’

HomeLight

Ken Crotts , a real estate agent with over 35 years of experience in Seattle , is passionate about helping buyers avoid bad home purchases. Inspections. Home inspections are the best way for a buyer to prevent getting a “lemon” house. Attend the inspection.

Survey: Almost Half of Recent Homebuyers Made an Offer Sight-Unseen, the Highest Share on Record

Redfin

Redfin agents cite health concerns around the pandemic and competition fueled by a worsening housing shortage as reasons more buyers are bidding on homes before visiting them. Fortunately, the inspection contingency enabled her to back out of the purchase.

Tips for Buying a Foreclosure Property

Point2Homes

The real estate agent you choose to work with is even more important when buying a foreclosure. Specifically, a real estate agent who is experienced in helping buy foreclosures and who has a good knowledge of the local area will know when a home is a bargain. The Home Inspection.

Think The Cash Closing Process Is Always Fast? 11 Delays Buyers Should Watch Out For

HomeLight

All-cash offers are beloved by sellers and real estate agents alike — and they’re more than three times as likely to be chosen from the pack. We talked to two top real estate agents to walk us through what can hold up even an all-cash deal. Problems come up during inspection.

Ask Brian: Will 2021 be a Good Time to Buy a House?

Realty Biz

The seller shouldn’t know the maximum that you can (or want) to pay but your agent needs to know that you are willing to go higher. Not common, but what some buyers are beginning to do is waive appraisal and inspection contingencies to make their offers more attractive to home sellers.

Accepted Offers & Buyer Protections

The Living Room

Buyers must deposit earnest money and finalize the loan application within the first few days while the agent schedules inspections and coordinates with all parties. If you do have concerns, it is important to discuss them with your agent as soon as possible as the timeline has begun!

What is a Contingent House Listing?

Point2Homes

When searching for the ideal home, expect to encounter a few issues along the way, such as homes listed as contingent. But, what does contingent mean and how does it affect your purchase? A home listed as contingent means the seller has accepted an offer. Contingent Statuses.

7 Creative Strategies to Make Your Offers Stand Out in a Seller’s Market

The Close

Listing agents are flying high with attention on their listings. But, of course, buyer’s agents are always frustrated with the amount of work they are putting in, only to get shot down and have to repeat the process over and over again. CALL the Listing Agent. Agent Basics

Selling a House in Delaware? You’re on the Hook for These 9 Closing Costs and More

HomeLight

We’ll break down seller closing costs with insight from Peggy Centrella , a top Delaware real estate agent ranked in the top 5% of real estate agents in her market area. Real estate agent commission. The national average real estate agent commission is 5.8%

Buying a New Home? Here’s 8 People You Need on Your Team

Redfin

Real estate agent. However, the process will feel less daunting with an experienced real estate agent by your side. Because your real estate agent plays such an important role in your homebuying process, you should do your research and make sure you’re choosing an agent you trust.

Title 97

Received Multiple Offers on Your Home? ‘Highest and Best’ Will Tell You Who Wants it Most

HomeLight

As a next step, your agent suggests going with a “highest and best” strategy to see if any of these offers rise to the top of the pile. As a seller’s agent, if I have multiple offers, we’ll tell buyers, ‘We want your highest and best offer by Tuesday at 5 p.m.’

How Much Your Inspection Will Cost, And What It Will Tell You

HomeLight

If you’re trying to save money or keep your costs down, you may wonder if you really need to have a home inspection done. When your agent helped you write your offer , the home’s condition informed your offer price. So, why get a home inspection? What is a home inspection?

4 Scenarios Where Sellers Can Use Seller Credits to Close the Sale

HomeLight

For added insight on using credits wisely, we consulted top real estate agent Topher Kauffman , who has closed 82% more single-family home sales than the average agent in Summerville, South Carolina. The home inspection identifies deep cracks in the driveway as a safety hazard.

The Pros and Cons of Making an All-Cash Offer on A House

HomeLight

With the help of Brad Graves , a top real estate agent in San Antonio, Texas , and some recent national home purchase data, we’ll examine the pros and cons of all-cash offers. The seller makes decisions based on the terms of your offer, including contingencies.

Buying in a Seller’s Market: 9 Ways to Win

Redfin

2) Get a Great Real Estate Agent. Having a great real estate agent by your side throughout this process can help make everything go more smoothly and aid you in making an offer quickly when the time comes. 7) Waive Extra Contingencies. What is a Seller’s Market?

3 Top Reasons Why Sellers Sue Buyers for Backing Out of Home Sales

HomeLight

We talked to veteran real estate agent Laura Wallace , who’s worked with 80% more single-family homes than the average agent in Memphis, Tennessee ; she walked us through the ins and outs of what happens when a buyer backs out of a contract. What are contract contingencies?

Selling Your House: A Timeline of What to Expect

Redfin

Hire a listing agent you trust. Your agent will support you through the home selling process. Ask friends and family for recommendations, and evaluate a few agents. See more on how to choose a real estate agent ).