Ask a RE/MAX Agent! “Is It a Bad Idea to Waive the Home Inspection?” & More

Prospective homebuyers looking to enter the housing market have plenty of questions about the current competitive landscape, like competing with cash offers, potentially waiving home inspections and more.

Consumers asked their top-of-mind real estate questions via Instagram – and RE/MAX agents, each affiliated with an independently owned and operated RE/MAX brokerage, answered! Keep reading to learn what they had to say.

Q: How can I compete with all cash buyers or those offering way over asking price?

“There are several ways to be a successful buyer in this market. Work with a reputable REALTOR® to align with a strong lender who will lead you toward the best financing options for you. Writing clean offers and removing – or reducing – as many contingencies as possible will also give you more of a competitive edge. Your REALTOR will also find great success when reaching out to the listing agent to understand the seller’s specific goals, timelines and circumstances. Surprisingly, the highest offer does not always win – many times, [the winner] is the buyer who can be the most flexible with the seller’s needs.” – Lisa Harris with RE/MAX Center in Braselton, Georgia

Q: Is it a bad idea to waive the home inspection?

“I would never recommend to a client to waive a home inspection completely. That is, however, what some buyers are doing right now in hopes of securing the winning offer on a house. I write the inspection contingency on a house-by-house basis. If my clients feel strongly about a house and are considering waiving the inspection, I always recommend a showing where a certified home inspector walks through the property with us to look for major possible defects that could be costly. It enables the buyers to make the choice of writing a more competitive offer or deciding not to write an offer at all. At times when I’ve had buyers expressing that they do want to waive inspection, I’ve asked the listing agent to share a prior inspection report if the current sellers have owned the property for a short period of time. [That helps] my buyers feel more comfortable even though they planned to waive inspection prior to viewing the report. There are many ways to keep some sort of an inspection in the buying process to prevent possible buyer’s remorse.” – Sindy Jensen with RE/MAX 1st Realty in Marquette, Michigan

Q: Is buying a home possible right now?

“Yes, people are closing on new homes every day! The first step is to align yourself with a RE/MAX agent in your area who will guide you every step of the way. It’s a great time to [jump into the] seller’s market so you can find your dream home.” – Lisa Harris with RE/MAX Center in Braselton, Georgia

Have your own real estate questions? Ask RE/MAX Agents in the “question box” on @remax Instagram Stories the first Wednesday of each month.