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Pending legislation would end home inspection waivers in Massachusetts

Housing Wire

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. The Massachusetts legislation would grant buyers the right to a home inspection , but it does not mandate that one be completed. and Canada.

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More buyers waive the home inspection to get the deal done

Realty Biz

s largest markets waived the inspection contingency, for example. Still, experts say that waiving a home inspection can turn out to be very expensive. It is “a few hundred dollars for your peace of mind”, said Jean Rosalia, a residential and commercial real estate professional based in Virginia Beach, Virginia.

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Can You Sell a House As Is Without Inspection? A Reality Check

HomeLight

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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Under Contract vs. Pending: A Home Buyer’s Guide to Status Tags

HomeLight

While under contract, there are typically contingencies in the buyer’s offer that need to be resolved before the sale moves forward. If contingencies are not met, the deal might fall through. If the buyer fails to secure financing, they can withdraw without losing their deposit.

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What Is a Non-Contingent Offer When Buying a Home?

HomeLight

As a homebuyer entering a competitive real estate market, it’s likely you’ll encounter the term “non-contingent offer.” A non-contingent offer is often seen as a bold move in residential real estate transactions, signifying an offer to buy a property without certain conditions or “ contingencies ” that must be met first.

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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. Higher deposits, full-price offers, and escalation clauses will remain common in 2021.

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What Buyers Need to Know About Making an Offer on Active Contingent Listings

HomeLight

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.