As a buyer, the process of writing an offer can be daunting if the property you are interested in is receiving multiple offers. So, as a buyer does it make sense to waive your inspection contingency to make your offer more attractive to a seller?
Hi, I’mTerry Tucker, eXp Realty, I help people sell and buy homes right here in the East Bay!
The answer is… IT DEPENDS. This is something that’s decided on a house by house basis and you will need to weigh various factors in order to answer this question.
Factors like:
What city is the home located in?
How long has the home been on the market?
Has the seller already done pre-inspections and are they complete?
One thing is clear, you should NEVER waive the inspection contingency on a home where the pre-inspections have not been done, are too old, or if there are too many unanswered questions regarding condition.
Home inspections can uncover potentially hazardous items in the home like serious foundation problems, leaky roofs or electrical issues like knob and tube wiring. It is better to know upfront of any potential issues and discuss how to handle them before moving forward with your purchase.
Fortunately, here in the East Bay, the custom is for sellers to do pre-inspections and make them available to buyers before offers are received. This is great because as a buyer, you will know “upfront” the general condition of the home. This information will help you decide whether its condition is something you can handle or is just too overwhelming; “BEFORE” you fall in love with the house!
It is incredibly common for buyers to waive the inspection contingency because pre-inspections have already been completed. This makes it super important that you work with an experienced local agent that understands older homes and the gravity of waiving your inspection contingencies. This means they need to have sold multiple old homes to gain the insight to lead you to a good decision. Waiving inspections on the wrong house means you could end up spending tens of thousands of dollars down the road on surprise repairs.
If you would like more information on East Bay Real Estate Market or you have any questions about old houses, Call me today and let’s talk about it. I’m a seasoned East Bay expert with a 5-Star rating. I’ll help you navigate the market and make it happen, whether that’s selling or buying or both!
And if you or someone you know needs to sell a home, ask me about my home-selling plans.. I took the pain out of negotiating with a Realtor and made it SUPER simple. Really! Choose Silver, Gold, or Platinum- Pick your Plan and Pick your Price. Terms do apply. I’m Terry Tucker and I sell homes. Let’s get you going, Call me today!
