Redfin

JUNE 25, 2025

Buying a home is an exciting adventure but it often comes with surprises during the property inspection. From sneaky leaks to electrical quirks, the most common home inspection problems include structural damage, roof and plumbing issues, outdated electrical panels, HVAC concerns, water damage, termites, safety hazards, and drainage problems.

Inspection

Rochester Real Estate

NOVEMBER 5, 2015

What To Expect From Your Listing Agent Why For Sale By Owners (FSBOs) Fail Blog Featured Articles Home Buying Home Selling LOCAL Rochester NY Articles Should I Waive My Home Inspection When Buying A House? Should I Have A Home Inspection When Buying A House Buying a home is a significant investment and one you want to be happy with.

Inspection

Redfin

MARCH 7, 2025

When buying or selling a home, the home inspection process plays a pivotal role in determining the condition of the property. One of the most common questions that come up during this phase is: who pays for the home inspection? What is a home inspection? A home inspection is a thorough evaluation of a propertys condition.

Inspection

Windemere Buying

MAY 19, 2025

Making a Contingent Offer on a Home Once you and the seller agree on the price of a home, both parties have certain responsibilities before closing. Buyers are responsible for securing financing , scheduling a home inspection, and getting the property appraised.

Home sale contingency

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. In certain areas, additional contingencies may be especially important.

Purchase and sale agreement

Redfin

JULY 14, 2025

When that breach isn’t protected by a contingency, the seller may have the right to keep the earnest money as compensation for lost time and missed opportunities. Performing unauthorized inspections or repairs. These include financing, home inspection, and appraisal contingencies.

Earnest money deposit

Redfin

MARCH 4, 2025

Combine inspections. 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.

Pre-approval

Redfin

JULY 2, 2025

Valid reasons buyers can back out of a contract Most purchase contracts include contingency clauses —legal safeguards that allow a buyer to withdraw without penalty if certain issues arise. Yes—but only if they invoke a contractual contingency: inspection, financing, appraisal, title, insurance, or sale of the current home.

Purchase and sale agreement

Redfin

JULY 21, 2025

The buyer’s agent requests a pre-inspection Signs a showing went well FAQs 1. The buyer’s agent requests a pre-inspection A request for a pre-inspection, an inspection before an offer is made, is one of the strongest signals that a buyer is serious about your home. They mention decorating or renovation ideas 7.

Pre-approval

Redfin

JUNE 23, 2025

You can schedule inspections, review the title, secure an appraisal, and check for any red flags that could affect your decision to buy. This timeframe grants the buyer permission to thoroughly inspect the property. It’s typically refundable if the buyer backs out for a valid reason like inspection or financing issues.

Due diligence

Redfin

JUNE 27, 2025

Don’t skip critical steps like the home inspection or negotiating closing costs. Skipping the home inspection Some people waive the home inspection to speed up the buying process, but skipping this step can be costly in the long run. An inspection typically costs between $300 and $500, and it’s well worth the investment.

Pre-approval

Redfin

JULY 10, 2025

Earnest money is a refundable deposit held in escrow to show your serious intent to buy, while due diligence fees are usually non-refundable payments made directly to the seller to secure time for inspections and evaluations. Whether earnest money is refundable depends on the contingencies in the purchase agreement. Is it refundable?

Due diligence

Rochester Real Estate

NOVEMBER 5, 2015

Typical Contingencies That Would Allow The Return of Your Earnest Money What Are Some Of The Most Common Real Estate Contingencies? Home inspections Mortgage contingency Real Estate Appraisal Home sale contingency These are the most typical contingencies that could allow for the return of your home deposit.

Earnest money deposit

Redfin

JULY 16, 2025

Under contract stage: Once under contract , the primary buyer is locked in unless contingencies fail. These contingencies could include financing, inspection results, or the sale of the buyer’s existing home, giving them a legal “out” if certain conditions aren’t met. financing, inspections). Not always.

Backup offer

Redfin

JULY 9, 2025

Decide on important terms like earnest money deposits, contingencies (inspection, financing), and closing dates that can make your offer stand out. During this time, your lender will finalize your mortgage, the home will be appraised and inspected, and a title search will be conducted. If not, you may forfeit it.

Pre-approval

Redfin

JUNE 17, 2025

This delay is the result of the due diligence period, where the buyer will conduct inspections and other research before actually signing any papers. For example, if the home inspection reveals extensive repairs, the buyer may be able to terminate the agreement due to a home inspection contingency.

Closing

Redfin

MARCH 18, 2025

You back out due to a contingency you get your earnest money back Most purchase agreements include contingencies that allow you to cancel the deal without penalty. Inspection contingency: If the home inspection reveals serious issues and you decide to walk away (within the agreed timeframe), you can get your money back.

Closing

Redfin

JUNE 17, 2025

There are several kinds of contingencies , ranging from home inspection to home sale, and it can be confusing to know what to expect when receiving a contingent offer. Mortgage contingency: Gives the buyer a specific period of time to get home financing Appraisal contingency: Usually used for lender protection.

Inspection contingency

Rochester Real Estate

NOVEMBER 5, 2015

Home Inspection The home inspection will show if this is a property you want to buy. If major issues are highlighted in the inspection report, you can negotiate with the seller over repairs, or they could credit you. If you have an inspection contingency, you can back out of your purchase if serious problems are found.

Purchase and sale agreement

Redfin

MARCH 4, 2025

That means there’s no home inspection or appraisal. Your agent will help you navigate making an offer and decide how much to offer and whether to include any contingencies. Step 6: Have a home inspection and appraisal Most foreclosed homes are sold as-is, meaning the seller wont make repairs.

Pre-approval

The Close

MARCH 11, 2025

If your offer is accepted, the next step would be to perform a property inspection and appraisal. Buyers will typically shoulder the cost of home inspections, which range from $300 to $500. Home inspection checklist (Source: Zillow) During the purchase process, there can be something called an inspection contingency period.

Sales

Redfin

JULY 11, 2025

Buyer is unable to secure financing A financing or mortgage contingency protects buyers if they’re unable to get approved for a home loan. Here are the most common scenarios: Buyer waived contingencies In competitive markets, buyers may choose to waive protections like the inspection or financing contingency to strengthen their offer.

Earnest money deposit

Redfin

JULY 21, 2025

Common contingencies include: Financing contingency: Protects buyers if they can’t secure a mortgage loan. This contingency ensures the buyer isn’t penalized if a lender denies their loan application. Home inspection contingency : Allows termination if major issues are found during the inspection.

Earnest money deposit

Rochester Real Estate

NOVEMBER 5, 2015

Skipping A Full Professional Home Inspection Due to the current state of many real estate markets, many homebuyers are electing to waive their home inspection. Buyers are finding that by including a home inspection contingency, that they’re losing out on home after home.

Inspection

Rochester Real Estate

NOVEMBER 5, 2015

This can avoid potential issues and/or lawsuits once your home is under contract, after inspections, and even years after you have sold your home. A sale contingency means that the potential buyer of a home must sell their existing home, before being able to purchase the “new” home. How does the inspection phase work?

Purchase and sale agreement

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.

Inspection contingency

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.

Inspection contingency

Housing Wire

FEBRUARY 20, 2024

A housing market marked by relatively high interest rates and tight inventory — and punctuated by the practice of home inspection waivers to sweeten offers — are taking a bite out of business for home inspectors, who play a key role in the sales process by ensuring that buyers are not being sold a lemon of a house. and Canada.

Inspection

Maximum Exposure Real Estate

OCTOBER 31, 2022

House inspections are another expense during the home-buying process that you could choose to eliminate. However, choosing not to have a home inspection isn’t an expense you should avoid. […]. The post Home Inspection Contingency: Examples, Clauses, and Addendums Explained appeared first on Maximum Real Estate Exposure.

Inspection contingency

Housing Wire

SEPTEMBER 9, 2024

Like with the amount of earnest money deposit or including an inspection contingency, the amount the buyer is asking the seller to pay her agent is a term that impacts the strength of the offer,” Redfin chief economist Daryl Fairweather said in a statement.

Earnest money deposit

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.

Inspection contingency

HomeLight

JANUARY 26, 2024

For this reason, most contracts contain an inspection contingency clause. But what happens if the inspection contingency expires? If this contingency period lapses before you’ve finalized your decisions, will you lose your deposit? Get Started How does an inspection contingency work?

Inspection contingency

Keeping Current Matters

MARCH 11, 2022

Terms like appraisal (what lenders rely on to validate a home’s value) and the inspection contingency (which gives buyers essential information on a home’s condition) directly impact the transaction. For example, when mortgage rates and home prices rise, it impacts how much home you can afford.

Inspection contingency

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.

Inspection contingency

Keeping Current Matters

NOVEMBER 30, 2020

There are, however, 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.

Inspection contingency

Keeping Current Matters

MARCH 15, 2021

Freddie Mac explains that there are, however, certain contingencies you don’t want to forego: “ 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.

Inspection contingency

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.

Inspection contingency