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 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.

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.

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.

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.

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?

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.

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.

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.

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

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.

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.

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.

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.

6 Benefits of a Pre-Listing Home Inspection

Redfin

However, there’s one big step many sellers overlook: a pre-listing home inspection. Typically sellers wait until a potential buyer makes an offer on their home, and then the buyer pays for an inspection. Check out these 6 benefits of a pre-listing home 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.

Crawl Space: A Healthy Home Starts From the Ground Up!

The Living Room

A crawl space inspection is typically included in a standard home inspection when buying or selling a house. Prior to listing their property, sellers should make sure they have adequate access to their home’s crawl space and consider having it inspected by a crawl space contractor.

4 Scenarios Where Sellers Can Use Seller Credits to Close the Sale

HomeLight

Here are some of the most common scenarios: Scenario 1: Offset the cost of repairs flagged by the home inspection. The home inspection identifies deep cracks in the driveway as a safety hazard. Your buyer asks you to address the problem as part of their inspection negotiations.

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.

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.

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 97

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?

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 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.

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 in a Seller’s Market: 9 Ways to Win

Redfin

If you don’t have to use a lender, there’s no financing contingency, which shows the sellers that you will most likely not pull out of the deal due to financial issues. 7) Waive Extra Contingencies. What is a Seller’s Market?

Are Pre-listing Home Inspections Worth It? Here’s What Sellers Need to Know

HomeLight

The home inspections process is often one of the greatest obstacles to closing a swift sale. According to the National Association of Realtors (NAR), home inspection issues were responsible for 11% of delayed contracts and 9% of contract terminations in 2021.

How Long Does it Take to Close on a House? 11 Steps From Your Offer to Keys in Hand

Redfin

Schedule a home inspection and negotiate concessions for any issues. Ideally, your purchase agreement included an inspection contingency. In a seller’s market, buyers may waive this to be more competitive, even if an inspection is in their best interests.

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.

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.