What is a contingency period?

It’s the length of time the buyer (or seller) has to complete the contingency in the contract. The timeline will fluctuate depending on the specifics of the contingency.

Should I waive the inspection contingency if I make a high due diligence payment?

No. Even if you make a high due diligence payment, an inspection contingency gives you the ability to renegotiate the sale price with the seller or ask them to make repairs.

What is the biggest reason to make your offer contingent on a home inspection?

It gives you more options as a buyer. You can renegotiate terms with the seller, ask them to make repairs or potentially walk away based on the home inspection results. Your options are much more limited without the contingency.

Home Inspection & Appraisal

A conceptual image me of a magnifying glass over a bar chart, meant to represent waiving the contingency.

Should You Ever Waive the Inspection Contingency?

When the housing market gets competitive, people will pull out all the stops they can to win a bidding war. One tactic available to potential buyers is to wave the inspection contingency. In May of 2023, 25% of buyers waived the inspection contingency. That’s a significant number, especially given how risky the move is. We’ll...

What Are Real Estate Comps and How To Find Them

Whether you’re buying or selling a home, comparables (aka comps) are one of the most important pieces of information you can use to gauge the value of a property. Before a house sells, you need to figure out how much it’s really worth. Comps help sellers set their asking price and help buyers determine how...

Close up of electrical outlet with piece of blue painter's tape above it that has "Move" written on it

Blue Tape Walk-Through: Your Guide

If you’re purchasing a newly constructed home, the blue tape walk-through is an integral part of the buying process. Blue tape walk-throughs can be stressful if you go in blind. So you’ll want to have a plan of action to ensure you get everything you need from the builder of your new home by the...

What Is an Appraisal Waiver?

Getting an appraisal waiver could help you keep money in your pocket. The waiver lets you skip the cost of an in-person appraisal. That’s the upside. Now, here’s the potential downside: Like many services you might go back and forth on during the home-buying process, appraisal waivers come with some risks, and they can only...