Buyers ask this all the time in a competitive market! An inspection contingency is a clause in the standard offer that protects the buyer from losing their deposit if issues come up during the inspection. The buyer can back out with no penalty if they argue they are not satisfied with the inspection. So in a multiple offer situation, sellers are often incentivized to choose from offers with an inspection contingency waiver. Having a transaction fall through is stressful for both buyers and sellers!
So, isn’t it scary for the buyer to waive the inspection? After all, the inspection contingency is there to protect the buyers. I often advise my clients to keep the inspection contingency if there are no competing offers. Is there any way around the inspection waiver if there are multiple offers?
Fortunately, there are several strategies to make your offer compelling, minimize risk without compromising your best interest. Check out the password-protected section of my blog to learn more.