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.

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.

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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.

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 Tips for Making Your Best Offer

Keeping Current Matters

Understand the Seller’s Needs, but Resist Waiving Certain Contingencies. Your trusted real estate advisor will help you consider which levers you could pull, including contract 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.

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%

What Is a Contingent Offer? What It Means When Buying a Home

Realtor.com

iStock A contingent offer means that an offer on a new home has been made and the seller has accepted it, but that the final sale is contingent upon certain criteria that have to be met. Home inspection contingent offer. This is how a contingency works during a home sale.

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 to Get Out of a Contract When You Don’t Want to Buy That House

Realtor.com

Contingencies and legal protections abound that enable home buyers to back out of a deal. How to get out of a contract using the home inspection contingency. Some states require that the buyer also send a copy of the inspection report,” says Zoller.

More than 70% of home buyers face unexpected costs within first year

Realty Biz

These costs may not have been such a worry before, but with many buyers waiving the home inspection contingency with the housing market so competitive, they could be in for a big surprise, Wilson said.

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.

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.

In bidding wars, cash really is the king

Realty Biz

All-cash offers were found to be significantly more successful than other strategies that are commonly used in bidding wars, such as waiving the financing contingency or a pre-inspection.

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.

3 Common Reasons Homebuyers Are Unable To Win the House—and How To Get Around Them

Realtor.com

It could be shortened timelines, waived contingencies , large deposits, or postclose occupancy , he says. Being unwilling to waive contingencies. A contingency is a contractual escape clause buyers write into their offers. Same with the appraisal contingency,” he says.

What Are Common Terms and Conditions in a House Offer

Realty Biz

Let’s look at the most common contingencies in an offer and what they mean to buyers and sellers. Common Contingencies Found in an Offer to Purchase. Home Inspection Contingency. One of the most common terms in an offer is the home inspection contingency clause.

Buying a home is so stressful that half of all buyers are left in tears, a survey finds

Realty Biz

There are about 23% fewer homes on the market than a year ago, which increases competition and leads many buyers to feel the need to waive crucial contingencies in order to stand out.

How to Spot Serious Foundation Trouble

Hank Miller Team

Buyers were/are so stressed to secure a home that some toss caution to the wind; overpaying, waiving finance contingencies, inspection contingencies and more. If this buyer was getting a loan, any appraiser will note this and certainly call for structural inspection as well.

Closing on a House Checklist: 6 Things Home Buyers Must Do Before They Move In

Realtor

Get all contingencies squared away. Most purchase agreements have contingencies —things that buyers must do before the real estate transaction is official, explains Jimmy Branham , a Coral Springs, FL, real estate agent at the Keyes Company. Your home inspection reports.

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.

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

What Buyers Need to Know About Contingency Periods (And How Contingency Periods Benefit Them)

HomeLight

But first, you have to sell your old home, potentially secure financing, and secure a home appraisal (and likely an inspection) on your new house. Most purchase agreements have some terms in place that must be met for the deal to go through, such as having a home inspection completed.

Here’s what first-time buyers need to budget for

Realty Biz

Another big danger associated with maintenance costs is that it has become increasingly more common for buyers to waive the home inspection contingency to try and get their offer accepted. According to the NAR, 23% of buyers waived inspections in August.

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?

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.

You Accepted an Offer, Then Got a Higher One? Here’s What to Do

Realtor.com

This contract—often called a home purchase agreement—defines the responsibilities of each party, deadlines, and specific contingencies. Check your contract’s contingencies. For the seller, a buyer closing a mortgage within 30 days is a typical contingency.

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.

Avoid These 4 Mistakes When Selling Your Home

Realty Biz

In a real estate sale, it’s common for there to be contingencies – or conditions – that need to be met before the buyer will close the deal. These contingencies are put in place to protect the buyer’s interests.

NAR: Cooldown Persists as July Pending Home Sales Dip 1.8%

RIS Media

According to the report, 27% of buyers bypassed appraisal and inspection contingencies in July. Even in a somewhat calmer market, a number of potential buyers are still choosing to waive appraisals and inspections.”

Sales 85

13 Types of Home Inspections: Are You Getting the Right One?

Realtor.com

Getty Images Most homebuyers know that no matter how much they love a house, they should get it inspected before closing the deal. “It’s Homebuyers often add an inspection contingency to their offers, which lets you back out of the deal if a significant problem is revealed. “An

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.

Key Terms for Homebuyers [INFOGRAPHIC]

Keeping Current Matters

Terms like appraisal (what lenders rely on to validate a home’s value) and the inspection contingency (which gives buyers essential information on a home’s condition) directly impact the transaction. Some Highlights.

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.