Waiving a Home Inspection in the LBI Real Estate Market
Waiving a Home Inspection in the Long Beach Island Real Estate Market 
Waiving a Home Inspection in the Long Beach Island Real Estate Market 
Waiving a Home Inspection in the Long Beach Island Real Estate Market
Buying Long Beach Island Real Estate
The Long Beach Island real estate market has seen an increase in activity over the past several years. Especially in the case of single-family homes, the number of homes sold month by month has shown an upward trend. Increased competition has led to home buyers looking for creative ways to win bidding wars. Waiving a Home Inspection in the Long Beach Island Real Estate Market is a great way to distinguish your offer…but it does carry risks. An inspection free deal is attractive is for several reasons:
- Not having a home inspection dramatically increases the likelihood of the agreement transacting
- A buyer may be able to offer a lower price but a “safer” offer
- A buyer will usually surrender an opportunity to cancel the transaction, depending on how the contract is written.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
Waiving a Home Inspection in the Long Beach Island Real Estate Market
As I stated above, eliminating a home inspection is a great way to make your offer stand out. A seller will usually welcome a deal with fewer contingencies. Examples of fewer contingencies can include an all-cash contract with no mortgage contingency, waiving a home inspection, or faster closing date. This can help to lower the overall upfront price of the home. In the LBI real estate market, it is not always the offer with the highest price that wins. Terms can be just as crucial as price. Deciding to waive a home inspection in the LBI real estate market can be used to great effect, but is not appropriate in every situation. If a home is transacting as a knockdown, a home inspection is not needed, and waiving it can save a great deal of money. Likewise, if a home is brand new, a home inspection may not be required as the town’s inspections should have covered the systems of the house. That said, I strongly suggest a home inspection on a new home, in some cases more than others, since it has never been lived in before. Waiving a home inspection in the LBI real estate market can be a costly mistake if there are conditions in the home that need to be addressed, so it is essential to keep in mind the overall goal of the transaction and the amount of understanding you have regarding the home.
Long Beach Island New Jersey (LBI NJ)
Depending on the deal waiving a home inspection in the Long Beach Island real estate market can give you a competitive edge-provided, it does not end up costing you more money in the process. It is important to remember that every transaction is different, and each must be evaluated on its own. If you have any questions about buying, selling, or investing in the LBI real estate market, please do not hesitate to contact me.
By : Nathan Colmer |LBI Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
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