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Why would you waive an inspection contingency?

On Behalf of | Jul 29, 2022 | Real Estate |

If you’re buying a new home, you probably want to have a home inspection done. You need to make sure that the home is in good condition and that it will pass the inspection, both so that you know it is safe and so that you know it’s a good investment.

But there are people who choose to waive the home inspection contingency when they make an offer. This doesn’t mean that they don’t have the inspection done. It just means that they can’t automatically walk away from that offer if the home does not pass the inspection. Why would someone remove this contingency from their offer when it clearly could protect them from making an unwise purchase?

Some buyers prefer not to have contingencies

The reason is that removing contingencies can, in some cases, make it more likely that a seller will choose your offer. If you think that there are going to be multiple offers on the house and you’re not sure that yours is competitive enough, this is one way that you can give yourself a little bit more of an edge.

The reason that the sellers don’t like contingencies is that they want to make sure that an accepted offer goes through. They don’t want to start the process over again. A contingency gives the seller a way to walk away from the deal without penalty, so removing that contingency makes it less likely that this will happen.

That’s not to say that removing contingencies is always your best option. But it just goes to show why you really need to consider all of the legal options you have when trying to buy a home.

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