Why are buyers willing to waive?
How home inspectors are adapting
How to make a strong offer without waiving the inspection
- Be fully preapproved. Having a mortgage preapproval letter from a lender in hand demonstrates not only that you’re serious, but that you’ll be able to get the financing to close the deal.
- Ask for an “informational inspection” rather than an “inspection contingency” in your offer. This language lets the seller know you’ll be getting a full professional inspection, but that it’s for your information only: you won’t be asking them to pay for issues it may uncover.
- Make a larger down payment. Yes, this may mean saving up longer before trying to buy a home but seeing more cash upfront can be alluring to sellers. It’s more money in their pockets right away and signals that your financing is solid and the deal will close. You don’t have to put down the full 20%, but an offer with a 3% down payment may not stand up against bids with 10% down.
- Add an escalation clause. Sellers like this clause because it eliminates the need for back-and-forth negotiation between competing buyers. For example, Munjal had a client who offered to automatically bid $1,000 over any other offer up to $200,000 on a property that was listed at $189,900. The client’s offer was successful, getting the home for $201,000.