Keeping Current Matters

JUNE 21, 2021

Just remember, there are certain contingencies you don’t want to forego. Freddie Mac explains: “ Resist the temptation to waive the inspection contingency , especially in a hot market or if the home is being sold ‘as-is’, which means the seller won’t pay for repairs. Bottom Line.

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Housing Wire

OCTOBER 27, 2020

Some are waiving inspection contingencies, while others are avoiding repair requests, opting to handle home repairs, fixes and upgrades as needed later on. While this approach could certainly help buyers win out in a bidding war, the strategy also comes with some serious risk — especially if the home inspection is skipped.

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Keeping Current Matters

SEPTEMBER 15, 2021

Of course, there are certain contingencies you don’t want to give up, like the home inspection. Freddie Mac explains : “Resist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold ‘as-is’, which means the seller won’t pay for repairs. Bottom Line.

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Housing Wire

FEBRUARY 20, 2024

The bill essentially negates as a negotiating tool the waiving of the home inspection contingency , which makes an offer for a home contingent on the results of an inspection. Brian Ashe, who co-sponsored the House version of the legislation. and Canada. Department of Education.

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Lighter Side of Real Estate

JUNE 3, 2025

Less competition can mean more leverageand more room to keep your inspection contingency intact. Your agent can help you keep things in perspective, keep you calm amidst stiff competition, and help you craft and negotiate a strong offer even if you arent willing to waive your rights to a home inspection.

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HomeLight

FEBRUARY 20, 2025

As of December 2024, 18% of buyers waived the appraisal contingency , with other buyers waiving, for example, inspection contingencies to likewise make their offers more enticing to sellers. The appraisal contingency is there to protect the buyer in case of any issues surrounding your appraisal.

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Realty Biz

MARCH 19, 2021

Sellers will of course have to pay for the home inspection themselves, and that can cost around $300 to $450, depending on the size of the home, its age, and its location. Sellers should also be aware that many buyers are deciding to waive the home inspection contingency within their offers to make them stand out more in bidding wars.

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Realty Biz

AUGUST 3, 2020

markets waived the inspection contingency , compared to just 13.2% of successful offers also waived the appraisal contingency, up from 17.4% The inspection contingency allows the buyer to cancel a purchase or request repairs are made to the property following a home inspection. “I who did so in June 2019.

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HomeLight

JUNE 9, 2023

Most real estate contracts — or roughly 80% — contain contingencies , according to data from the National Association of Realtors (NAR). As of 2023, 79% of contracts included an inspection contingency while 82% contained an appraisal contingency. What are the most common contingencies?

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Realty Biz

FEBRUARY 25, 2021

Besides making a higher offer, some buyers are also waiving the home inspection to make their offer stand out. Redfin said last year that almost 20% of the offers submitted by its agents waived the inspection contingency. Porch.com’s study shows that just over 19% of home inspections uncover problems with the roof.

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Lighter Side of Real Estate

AUGUST 16, 2022

The most common ones are: Mortgage contingency: If the buyer’s mortgage isn’t approved, they can back out of the contract. Appraisal contingency: If the house doesn’t appraise for as much as the buyer is offering, they can cancel the contract. So only buyers who had the financial ability to make a cash offer could waive those.

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HomeLight

JANUARY 31, 2024

Here are some of the most common contingencies you might encounter: Home sale contingency: This allows the buyer a specified amount of time to sell their current home. Inspection contingency: This gives the buyer the right to have the property inspected within a certain timeframe.

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HomeLight

JANUARY 10, 2024

Understanding these contingencies is crucial as they play a significant role in the homebuying process. Home inspection contingency This contingency allows you, as the buyer, to have the property professionally inspected within a specified timeframe. What does this mean to a buyer?

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Windemere Buying

MAY 19, 2025

However, while waiving contingencies can make for a more attractive offer, it also presents increased risk due to lack of protection. Thats why its necessary to understand each contingency and carefully consider what makes the most sense for your situation.

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Realtor.com

OCTOBER 29, 2020

These are the most common contingencies that are part of your new home closing process: Home inspection contingency: This gives buyers the right to have the home professionally inspected. It’s rarely advisable to waive an inspection contingency.

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Redfin

MARCH 7, 2025

For example, a buyer who skips the inspection to make their offer more competitive may later discover costly issues like a leaking roof or faulty wiring. By including an inspection contingency, the buyer can either negotiate for repairs or exit the deal without financial loss, avoiding unexpected expenses down the road.

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HomeLight

OCTOBER 30, 2020

The “as is” label signals that as the seller, you aren’t willing to negotiate on price no matter what comes up in the inspection. However, a buyer could still include an inspection contingency in the contract. Additionally, waiving the inspection contingency makes for a more compelling offer to most sellers.

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REM Online

SEPTEMBER 22, 2021

By changing the offer language to an “informational inspection” from a traditional “inspection contingency” condition, the deal is firm – the buyer is waiving their right to cancel the transaction based on the outcome of the informational inspection.

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Rochester Real Estate

NOVEMBER 5, 2015

If the home meets your expectations and you make an offer, your property inspection checklist can be used when you hire a home inspector. Include a Home Inspection Contingency Waiving Home Inspection Could Be A Big Mistake The inspection contingency is essential to avoid buying a home you will later regret.

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Redfin

JUNE 11, 2025

This Redfin article explains how contingencies work, which ones to expect, and how they help you avoid costly setbacks during the homebuying process. Home inspection contingency This is one of the most frequently used contingencies in real estate.

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Realty Biz

SEPTEMBER 23, 2020

Of course, there are some buyers who’re still choosing to waive the home inspection in order to try and make their offer more appealing to a seller, especially in the hottest housing markets. s largest markets waived the inspection contingency, for example.

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HomeLight

FEBRUARY 6, 2024

Types of contingencies Several common types of contingencies can cause a home to be listed as “contingent.” ” These include: Inspection contingencies: This allows the buyer to have the home inspected within a certain timeframe.

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Realty Biz

FEBRUARY 20, 2021

The home buying contingencies below should be completely understood before signing on the dotted line of a purchase and sale agreement. Home inspection: often called a due diligence contingency, will give the buyer rights to have the house inspected. Most buyers will have a home inspection contingency in their contract.

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HomeLight

SEPTEMBER 6, 2024

Generally, an appraisal contingency protects a buyer when a home they’ve made an offer on appraises for less than the amount the buyer offered to pay. Appraisal contingencies are just one type of contingency. Other types include a sales contingency , financing contingency, and inspection contingency.

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RIS Media

JULY 14, 2021

“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.

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HomeLight

OCTOBER 30, 2020

With cash, buyers are able to waive common contingencies, making the deal smoother and faster (not to mention sweeter for the seller). However, an inspection contingency will often be used by any buyer, whether they’re using financing or paying cash.

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Redfin

MARCH 4, 2025

If you want to inspect for lead, oil, or other specific issues, consider looking into these as part of a general inspection contingency, rather than including separate contingencies for each one. In a competitive situation, you can ask to do a pre-inspection of the home. Do some homework up front.

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HomeLight

NOVEMBER 8, 2024

This can mean that the buyer’s financing is approved, the inspection contingency is met, or any appraisal concerns are resolved. More on contingencies in a minute.) Appraisal contingency : An appraisal contingency lets the buyer back out if the home appraises below the agreed-upon price.

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HomeLight

DECEMBER 30, 2023

An appraisal contingency allows the buyer to either renegotiate their offer or freely walk away from the agreement if the appraisal comes in under the contracted offer price. Significant issues discovered can lead to renegotiations, repairs, or even contract termination without consequences for the buyer.

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HomeLight

DECEMBER 29, 2023

Straightforwardness: Unlike contingent offers, which are dependent on certain events like the sale of the buyer’s current home ( home sale contingency ) or satisfactory home inspections ( home inspection contingency ), non-contingent offers allow you to bypass these stipulations.

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Realty Biz

FEBRUARY 25, 2022

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. He advises that an inspection should still be performed even if it wasn’t a part of the home buying process.

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HomeLight

NOVEMBER 29, 2021

This type of contingency can last between 30 and 90 days. Inspection contingency. A home inspection typically involves an inspector taking a look at different parts of the house, which includes the foundation, grounds, basement, roof, attic, home systems, and more.

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HomeLight

JANUARY 13, 2022

Inspection contingencies. Inspection contingencies mean that a buyer can get a home inspected before the deal goes through, and can back out of the purchase with earnest money intact, depending on what the inspector finds. Inspection contingencies can be waived. Appraisal contingencies.

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RIS Media

AUGUST 31, 2021

According to the report, 27% of buyers bypassed appraisal and inspection contingencies in July. Despite two consecutive months of dipping contract signing, experts at NAR say buyers are still doing everything they can to get into a house. Regional Breakdown: Northeast . MoM — Now 92.0

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HomeLight

JANUARY 31, 2025

What fixes are mandatory after a home inspection? Although 20% of buyers waived inspection contingency , you may still be obligated to resolve certain issues, depending on your states and the buyers lenders policies.

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Norada Real Estate

APRIL 15, 2023

Home Inspection Contingency One of the most common contingencies that can affect the length of the under-contract period is the home inspection contingency. This contingency allows the buyer to have the home inspected and negotiate repairs or credits with the seller.

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HomeLight

APRIL 25, 2025

Since the buyer already has funds in hand, theres no waiting on mortgage approvals or worrying about inspection contingencies. The process of a cash offer in Maricopa Selling for cash in Maricopa helps cut out many of the delays tied to traditional sales.

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