Buyers may want to limit their risk when writing an offer in this market

In this market of low inventory and high numbers of buyers, buying your home can be frustrating. This is my job, to take the frustration away, as much as possible. Now, I want to address a couple of concerns: In order to get their offers accepted, many people are removing the contingencies for appraisals and inspections. While this will help get your offer accepted, it can be very risky. As far as appraisals go, they are an educated opinion of value. None of us have any choice in the selection of appraisers. If you get one that is under valued, you could potentially have to come out of pocket with a significant amount of money. As far as inspections: If you’re thinking about taking away this contingency, my suggestion would be to use the words “Inspections are to be to accept or reject. No seller repairs will be required unless required by the appraiser”. This covers you, as if something shows up that is too expensive to fix, you have an out. If the appraiser requires something like rotten wood repair, you won’t be paying for repairs on a home that you don’t own yet. Something to consider

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