Yes, we all know that this is a very tough seller’s market.
And one of the concerning trends this year that I’ve seen is the frequency of buyer’s waiving their inspection contingency altogether.
Many agents are way too eager to recommend this option for their buyers as a tactic to have their offer accepted.
This should be a rare situation in my opinion, especially with older homes.
The only exception I’ve made to this was when a buyer was offering on a newer condo. Not a whole lot that can be wrong with a newer condo!!!
But I’m seeing buyers waiving inspection on 100 year old homes down in Columbus.
The potential problems are many, including (just to name a few): structural issues, termites, lead pipes, dangerous wiring, attic mold, etc.
Need I say more?
Agents must be careful to keep their clients best interests on the forefront and not necessarily the urge to pull out all the stops just so their offer will get accepted.
There will always be another house!!!
David Baker, Broker/Owner