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

Redfin

markets waived the inspection contingency, compared with just 13.2% Winning offers waived the appraisal contingency at a similar rate—20.6%—up The inspection contingency allows the buyer to cancel a purchase or request repairs if they find an issue during the inspection period.

‘A slippery slope’: 14 pros weigh in on biggest contract mistakes

Inman

Agent Brokerage New Agent Month Select Service appraisal contingency Christy Murdock contract contract mistakes home inspection homeowners insurance inspection contingency insurance lot size per survey real estate contract theme-month-202107

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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

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.

How to Make a Winning Offer on a Home

Keeping Current Matters

You can strengthen your position with an offer that includes flexible move-in dates, a higher price, or minimal contingencies (conditions you set that the seller must meet for the purchase to be finalized).

5 Things Homebuyers Need To Know When Making an Offer

Keeping Current Matters

Your ability to do a quick close or make an offer that’s not contingent on the sale of your current home. Be prepared to amend your offer to include flexible move-in dates, a higher price, or minimal contingencies (conditions you set that the seller must meet for the purchase to be finalized).

5 Tips for Homebuyers Who Want to Make a Competitive Offer

Keeping Current Matters

Your position can be strengthened with an offer that includes flexible move-in dates, a higher price, or minimal contingencies (conditions you set that the seller must meet for the purchase to be finalized). There are, however, certain contingencies you don’t want to forego.

Buying a home that needs some repairs? Think twice about these projects

Housing Wire

Some are waiving inspection contingencies, while others are avoiding repair requests, opting to handle home repairs, fixes and upgrades as needed later on. Are you thinking of skipping inspections or repair requests and handling any minor home repairs yourself?

How Much Do Unexpected Projects Cost New Homeowners?

RIS Media

“That sticker shock may be increasingly common in a competitive market where buyers are dropping inspection contingencies as a strategy to win a bidding war. New homeowners can feel overwhelmed not knowing what to expect in terms of home project costs.

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. markets waived the inspection contingency , compared to just 13.2%

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.

What Is a Contract Contingency When Buying a Home

Dwell

A contingent offer means that an offer on a property has been made and the seller has accepted it, but that the final sale is contingent upon certain criteria that have to be met. These criteria, or contingencies, are clauses in a sales contract that typically fall under three major categories: appraisal, home inspection, and mortgage approval. Home inspection contingent offer A home inspection contingency could well be the most important one for home buyers.

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. Banging Down The Door To Home Ownership: How Buyers Are Winning Offers In Today’s Hot Market. We are seeing it all in this early 2021 Portland market.

5 Things Homebuyers Should Know (When Making an Offer)!

The Living Room

Your ability to do a quick close or make an offer that’s not contingent on the sale of your current home. Be prepared to amend your offer to include flexible move-in dates, a higher price, or minimal contingencies (conditions you set that the seller must meet for the purchase to be finalized).

Tempted by a Cash Offer for Your Home? Dissect It With This Guide

HomeLight

Review the terms of the deal for contingencies. Cash offers typically come with fewer contingencies than conventional offers. Contingencies are conditions that must be met for a real estate contract to remain binding. Financing contingency. Appraisal contingency.

Tips to Help Buyers Successfully Navigate a Hot Real Estate Market

Realty Biz

Minimal or no contingency clauses. Contingencies are specific conditions that must be met before the sale can be completed. For example, a contingency could be that the house value must meet or exceed your offered price when appraised. Require a minimal home inspection.

Contingent vs. Pending: Real Estate Lingo Explained

RIS Media

” There are other statuses in the MLS listings like “Pending,” “Contingent,” “Coming Soon” and “Expired.” One of the most confusing things for buyers and sellers to understand is what contingent means vs. pending. Contingent Meaning.

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.

What Fixes are Mandatory After a Home Inspection?

Redfin

A savvy homebuyer will schedule a home inspection for any home they’re serious about buying. In case you’re thinking of waiving the home inspection contingency, you should also be aware that some lenders require a home inspection as a necessary step before they finalize your home loan.

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?

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. s largest markets waived the inspection contingency, for example. Home Buying home inspection home inspector

The Sale Fail is a Buyer’s Best Friend!

The Living Room

Plus, Sellers often have copies of the previous Buyer’s home inspection reports and while all that property information can be a bit daunting right out of the gate, it also allows Buyers and their agents to quickly access the major issues of a property, make a plan, and hit the ground running.

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.

I Have to Make an Offer Contingent Upon Selling My House. How Do I Sweeten the Deal?

HomeLight

This is why many buyers make offers on their new home that include a sales contingency. With a sales contingency in your offer, you won’t have to close on your new home unless you’ve sold your old home. But a sales contingency could also make it harder to get an offer accepted.

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

HomeLight

And if you add a home sale contingency into the mix (that is, if you need to sell your current home before you can buy a new one), closing the deal can take even longer. Problems come up during inspection. But understand that inspections can delay the deal.

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. When you review the home inspection report, you may feel dismayed to see a long list of problems noted.

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

Redfin

They sent a Seattle-based relative to attend an in-person showing and the pre-inspection, submitted an offer at 6:20 p.m. Fortunately, the inspection contingency enabled her to back out of the purchase.

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.

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

Realty Biz

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. You should think long and hard before waving the inspection contingency.

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

HomeLight

Inspections. Home inspections are the best way for a buyer to prevent getting a “lemon” house. Basic home inspections don’t cover everything , though. A home warranty is not equivalent to an inspection, but it does offer a little more security if certain things go wrong.

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. Inspection Contingency: The timeline for inspections depends on the contents of your offer.

How Long Should the Contingency Timeframes in a Purchase Contract Be?

RIS Media

A standard home purchase agreement typically includes contingencies. If the contingency terms are not met, the contract is no longer enforceable and one party may even back out of the deal. Types of Contingencies . Purchase contracts typically include an appraisal contingency.