JHT Market Update - EP 20
The Risks of Waiving Inspections
You’ve found the right house. You place an offer, but your offer gets rejected. Not just once, but multiple times until you are ready to give up.
This is the reality for some homebuyers in today’s market, where sellers have the upper hand in choosing the highest and best from a multiple offer situation.
As a result, homebuyers feel pressured to begin making concessions for sellers so they can get their offer accepted. In some cases, this is waiving the inspection contingency, which is rarely advised.
The inspection contingency is a set timeframe to have the house inspected to ensure it’s in an acceptable physical condition. The buyer can then decide to request credit for repairs, proceed with the deal, or back out of the deal and have the deposit returned.
A home inspection can provide an ounce of prevention to help you feel more secure in your new home and alleviate some of the stress of a first-time purchase.
Without a licensed inspector viewing the property, you can only guess what may be potentially wrong with the home now or 10 years down the line.
Ultimately, you want to know your home before moving in, and as realtors, we want to ensure that you are living in a safe, healthy and comfortable home.
To the current market overview of the areas of Fullerton, Cypress & Yorba Linda over the past 7 days shows there are 54 new listings on the market, 40 new contracts and 70 sales.