Home Buyers Who Desire Home Inspections Might Not Be Able To Pursue All Homes
Scott P. Rogers
Here's a dynamic I've observed in our local market over the past six months or so...
- Many new listings are receiving multiple offers within a few days of being on the market.
- When there are multiple offers on a house within the first few days there are often one or more offers without home inspection contingencies.
- Sellers prefer offers without home inspection contingencies.
- Most buyers who make offers with home inspection contingencies are not successful in securing contracts on houses in the situations described above.
So -- if you are buying a house and you would only want to buy with a home inspection contingency (which is very reasonable) then you might not find success in securing a contract on a new listing with multiple offers... but once a house has been on the market for a few days or a week or two it is very likely that a seller will consider an offer with your inspection contingency - especially if they do not have any other offers at the time they receive your offer.
So, reasonably cautious buyers who want do conduct a home inspection do not need to despair that they shall never be able to buy a home -- but it will likely mean that you will not be able to successfully pursue some new listings.
