Buying A Home? Don't Skip These Steps
Greg and Linda just found their dream home – great neighborhood, great school system, nearby parks. They couldn’t believe this home was still listed for sale! However, when they contacted their real estate agent, they were told the home was almost certain to sell quickly and they should do everything possible, including skipping the inspection and appraisal, if they want a shot at becoming owners. Sound familiar?
In 2021, more than 21% of accepted bids removed the home inspection clause, according to forthcoming data from real estate website Redfin. In 2019, it was just 13%.
In a tough housing market, it may seem advantageous to make your offer stand out among the crowd and avoid a potential bidding war. However, agents with Rockingham Insurance warn that might be a bad decision.
“In a hot housing market, it may seem tempting to bypass the inspection and appraisal process to land the home of your dreams,” said Scott Fisher, Rockingham Insurance Agent. “However, an inspection serves as an important safeguard for future issues that may arise after closing, and, more importantly, can save the buyer money by avoiding issues that could lead to claims down the road.”
Fisher also strongly advises avoiding unnecessary risks when purchasing a home.
“There is just too much risk associated with skipping this important part of the process,” Scott Fisher said. “I like to tell my clients that if it’s meant to be, it will happen in the right way without skipping any critical steps.”
Have questions? Our trusted local Rockingham agent is standing by and ready to offer expert advice on how you can best be protected when choosing homeowners insurance to protect your investment.