I don't care how lovely a home is...there are always others.
What is your agent saying.
I wrote 2 offers this week, with no contingencies and got them accepted.
Its okay to pass too, and before you make a bid on another property to do inspections be sure
on the offer you are making.
Right, you can always do an inspection before making an offer !!
Hope you got the home by now. If you didn't, you're probably running into some of the same problems that many buyers are facing today...how to "strengthen" your offer while still retaining some control over the purchase.
To be frank, most buyers are removing contingencies today. This is only advisable if you, your Realtor, and your loan broker/agent are in agreement that the contingencies can be removed. Otherwise, contingencies are there to protect you, as the consumer, from unforeseen or unexpected problems associated with, frankly, one of the most expensive purchases of your life.
Be careful and work with a great team of real estate professionals who can help you make a unique decision for each home.
Again, hopefully, you were able to purchase the home of your dreams in Morgan Hill and are not currently in the market still looking for a home!!
Allison James Estates & Homes
You should read the market conditions advisory since it explains what the contingencies are and what can happen if you decide to waive them. It should really be your decision where the agent is not blamed later if you lose your deposit because of being unable to go through with the sale for any of the issues that could have been part of the contingencies.
I know inventory is low and the demand is high, but this is your deposit so if you are willing to lose it, then the decision is yours. It also depends on how much the deposit is. In that price range, I am sure it is a substantial amount of maybe 3%, correct. To me that is huge and I would not risk it.
Help-U-Sell Achievers Realty
Couldn't believe it when my own agent pressured me to do the same thing. I put my foot down and said absolutely not. Was not going to be stuck with two homes. So much for an agent fighting for me.
ALL contingencies mean that if the property doesn't appraise you will have to make up the difference.
If you can't get the loan then can you pay cash?
Failure to complete your contract when you waive all contingencies you risk your earnest money.
This is what your agent will discuss with you.
Well, maybe it is.
I would not have any problems removing the property condition contingency if the inspection and the termite reports are from reputable inspectors and there is no major issues found.
The financial contingency, on another hand, is our of your control - it is up to the bank to decide if they are going to finance your purchase. If your lender is willing to go ahead without a loan contingency you may take your chances. But it is your earnest money deposit on the line. There is a number of possible scenarios there and you have to assess the risk with your agent and with your lender.
Brad and Tina are spot on this time...your question needs to be answered by your agent, and not by our forum members who are not aware of the intricacies of your contract, the disclosures o this home. Trust your agent and make the bet decision for you.
I, for one,would never presume to advise you on a contract without knowing all the details.
Your best solution is to consult the real estate agent you hired to represent you in the purchase as they are going to be the only qualified agent to provide the feedback that your asking for. If your agent can't assist you then you may have to turn to a real estate attorney, or the agent's broker for help.
By the way, what is the reason you're asking this forum? Is there any reason you haven't asked your agent these questions? Have they not provided adequate feedback?