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Pending legislation would end home inspection waivers in Massachusetts

Housing Wire

A housing market marked by relatively high interest rates and tight inventory — and punctuated by the practice of home inspection waivers to sweeten offers — are taking a bite out of business for home inspectors, who play a key role in the sales process by ensuring that buyers are not being sold a lemon of a house. and Canada.

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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%. “The lack of inventory on the market is preventing home sales from being much higher.”.

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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 Active listings—the count of all homes that were for sale at any time during a given month— dropped 20.7%

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5 Tips for Making Your Best Offer

Keeping Current Matters

Multi-offer scenarios and bidding wars are the norm due to the low supply of houses for sale and high buyer demand. Speed and the pace of sales are contributing factors to today’s competitive housing market. Agents are experts in the local real estate market. Your agent can help you understand: The market value of the home.

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5 Things Homebuyers Need To Know When Making an Offer

Keeping Current Matters

According to the Realtors Confidence Index from the National Association of Realtors (NAR), the average home is on the market for just 17 days – that means from start to finish, a house for sale in today’s climate is active for roughly 2.5 A skilled agent will do everything they can to help you stay on top of every possible opportunity.

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Most Home Purchase Agreements Are Contingent on These Two Items

HomeLight

As a homebuyer, knowing what these contingencies mean for you and the seller can help you make decisions with more confidence and avoid unexpected surprises and pitfalls. We analyze over 27 million transactions and thousands of reviews to determine which agent is best for you based on your needs. What does this mean to a buyer?

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How Long Can a House Be Contingent?

HomeLight

You can then make a strong offer on your next home with no home sale contingency. Learn More What does contingent mean? In real estate, when a house is listed as “ contingent ,” it means the sale of the property is conditional upon certain criteria being met.