In multiple offer situations, sellers are looking at every aspect of each offer -- side by side -- comparing terms line by line. And when it comes to home inspections, they're usually comparing just two broad categories...

    Offers contingent on a home inspection

    Offers not contingent on a home inspection

For obvious reasons, sellers prefer the second option. An offer without an inspection contingency gives them confidence that the deal won't fall apart after the inspection takes place.

But sometimes buyers try to split the difference. They get creative...

    “We'll do an inspection, but we won't ask for repairs -- we just want the option to walk away.”

    “We'll only walk if there's a major issue, like something costing more than $5,000 to fix.”

    “We'll do an inspection, and if we back out, you can keep our earnest money deposit.”

While these modified inspection contingencies might all sound like reasonable compromises to a buyer, here's the reality:

    Yes, they're usually better than a standard inspection contingency.

    They're still worse than no inspection contingency at all.

So don't be surprised when your creative version of an inspection contingency doesn't win the house in a multiple offer situation. 

Sellers have choices -- and if another buyer is willing to move forward without any inspection contingency, that offer will likely look more appealing.

Bottom line? If you're buying in a competitive situation and you want the right to do a home inspection, be prepared for the possibility (or likelihood) that your offer will not be accepted.