Sound Off: What should buyers know when waiving contingencies?
A: In today’s fast-paced, low-inventory, competitive market, buyers are doing everything they can to structure their offer to be the winning one. It is important that buyers remember to protect themselves by not getting caught up in the frenzy, and to understand how waiving any contingency impacts them.
It has become common practice by listing agents to recommend sellers do inspections upfront and have a complete disclosure packet to give to potential buyers to review prior to them submitting an offer. The packet will include all seller- required disclosures, any information about the property the sellers have knowledge of, current reports (home, pest, roof inspections, etc.