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.

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.

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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?

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%

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.

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

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

HomeLight

When you make your cash offer, consider including contract contingencies to protect yourself in the deal. A contingency means that you’re willing to purchase the home contingent on certain details checking out. Get an inspection.

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.

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.

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.

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.

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

HomeLight

The “best” component refers to all the other terms included in a contract that can be tweaked to sweeten the deal — such as waived contingencies , putting down more cash upfront , or offering a more flexible closing date. 260,000 offer with financing and inspection contingency, 60-day close.

Tips for Buying a Foreclosure Property

Point2Homes

Notably, your offer should also include a home inspection contingency to ensure that you aren’t buying a property with serious defects. This will mean that your purchase won’t go to closing until a home inspection has been satisfactorily completed. The Home Inspection.

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. So, why get a home inspection? And how much does a home inspection cost? What is a home inspection? How much does a home inspection cost?

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

HomeLight

Which contingencies you included in your contract with the seller. What are contract contingencies? So as a buyer, you should have a contingency in your contract to protect you in case you can’t get proper financing for the home. Financing contingency.

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

HomeLight

This is important: if your real estate agent puts in an all-cash offer on your behalf, they will not include a financing contingency. The seller makes decisions based on the terms of your offer, including contingencies. Pro #1: Limited contingencies.

3 Times Your Earnest Money Deposit Could Be At Risk

Dwell

You waived your contingencies To make offers more attractive to sellers, it’s not uncommon for buyers to waive contract contingencies regarding real estate financing or an inspection. You might be tempted to do the same—a hefty earnest money deposit without contingencies will make you more attractive home buyers. Most experts recommend that you not waive the inspection contingency, unless you’re planning on tearing the property down.

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

Redfin

A home inspection is a crucial step in the home buying process, so having a knowledgeable home inspector on your team is key. Depending on the age and condition of the home, consider also hiring inspectors that specifically inspect for radon, mold, lead paint, or asbestos.

Title 85

What Hurts Property Value? 8 Things to Address Now

Redfin

This is why most buyers require an inspection contingency in their contract. . Property values fluctuate as a result of many factors, and as a homeowner, it’s important to be aware of factors that can drive home value down.

How to Sell a House As Is When You’re Done Getting Nickel and Dimed

HomeLight

That, or you’ve heard horror stories about the seller who attracted a great offer only to get taken to the cleaners over the inspection. With the average buyer negotiating $14,000 in savings from the inspection , your concerns are valid.

As-is 67

Selling Your House: A Timeline of What to Expect

Redfin

Scheduling a pre-sale home inspection will allow you to catch any necessary repairs before your home hits the market. Being proactive and scheduling a pre-inspection will alert you of any problems that you weren’t aware of and will allow you to address them before listing your home.

What Does Contingent Mean in Real Estate Sales

Realty Biz

The Definition of Contingent. Do you know what contingent means when either buying or selling a home? For example, if a home sale is contingent or pending, can you still make an offer? For example, some agents will mark your home contingent, while others will mark pending.

Should I Waive a Home Inspection? Why Buyers Are Willing To Right Now

Realtor.com

When we finally did go under contract on this third home, we learned of another issue: Home inspectors in the area were booked for two weeks and up, but our contract stated that we had only seven days to get an inspection done. Should you ever waive a home inspection?

Pay Now or Pay Later? Breaking Down Cash vs Mortgage Pros and Cons

HomeLight

You also don’t technically need to get a home inspected that you purchase with cash , as you do with most loans. Though here, too, a home inspection is always a good idea to save you from unpleasant — and potentially expensive — surprises. If you’re purchasing a home in cash, you’ll also avoid the need for a sales contingency (meaning your house has to sell before the deal will go through) in the offer.

Rent-to-Own Home Maintenance: Who Does What, and Who Pays for It?

HomeLight

She adds that if the parties do agree that buyers will be shouldering major home-maintenance responsibilities, the buyer must waive or remove any existing inspection contingencies prior to taking possession of the property.).

10 Things to Know About the ‘Sale Pending’ Phase, aka House Closing Limbo

HomeLight

Things that could derail a sale during the sale pending period include: The home inspection. Contingencies that fail to be met or lifted. A kick-out clause gives you the right to continue showing the home during the contingency period.

Short Sale Closing Costs: What Buyers Should Know

HomeLight

Another caution to buyers going into a short sale agreement: Short-sale homes are typically sold as-is, so the buyer is on the hook for any repairs that come up in the inspection process, not the seller or the lender.

What Are the Pros and Cons of Buying a Bank-Owned Home?

HomeLight

You will also have to expect a drawn-out process and condition issues, and you’ll have to button up your insurance and inspection processes. With an REO, you can also get the house inspected yourself after committing to buy it.

Banks 66

13 Steps to Buying a Bank-Owned Foreclosure

HomeLight

If your offer is accepted, you start the process of inspections, title checks, and negotiations while securing a mortgage loan and signing the papers when it’s all said and done. Has the bank or lender attached any requirements or contingencies to the deal? Step 9: Order an inspection.

Banks 70

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

The Close

When writing the offer with this strong of an approval letter, it allows you to have a shorter financing contingency time and more emphasis on the appraisal contingency time frame. Include an As-is Home Inspection Contingency. You guessed it: the home inspection.

Should You Buy a Home With Cash? Consider These 6 Disadvantages First

HomeLight

With cash, there are way fewer contingencies to contend with. Contingencies are conditions that must be fulfilled for a real estate contract to be completed. Two common mortgage-related contingencies are the financing contingency and the appraisal contingency. The financing contingency basically states that the loan has to clear before the purchase contract can be fulfilled. You’re going through inspection reports.

Countdown to Closing: How Long Does it Typically Take to Sell a House?

HomeLight

Get a pre-listing inspection. This provides the opportunity to identify any potential issues early on, so you can get a head-start on any necessary fixes prior to the buyer’s inspection. Once you make the decision to sell your home, the clock starts ticking.

Everything You Need to Know About Making an Offer: 15 Tips for Homebuyers

HomeLight

No sales contingency? Make sure your agent stresses that your offer doesn’t contain a sales contingency. Outline your contingencies. The most common contingencies include: A home inspection contingency to protect buyers’ interests.

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

HomeLight

That last one, miscellaneous bucket, that includes things like contingencies and rent backs and so forth. High price, short inspection period, quick close. I can’t do the three-week close unless I can order the appraisal tomorrow and inspect on Monday.