I'm curious what other agents and buyers from around the country are experiencing regarding the inspections requested on accepted purchase agreements. More specifically, are agents or buyers finding themselvves presenting an offer with no inspection contingency because there are multiple offers on the REO?

Obviously we always encourage our clients to have the home inspected.

And here in Minneapolis, we too have a ton of homes on the market. Thankfully, total homes for sale on the MLS has steadily been going down, however, inventory is still high. However, many of these REO properties on the MLS are really priced to sell. As a result, buyers are finding the need to put their "best foot forward" price-wise in these multiple offer situation.

Just curious what others from around the US are experiencing? Is anyone else "losing out" in multiple offers where a buyer may be putting forth an offer on a home with an inspection contingency?

Thanks in advance for others thoughts!

Ryan O'Neill: if you are under contract to the buyer, you would be well advised to strongly urge your
client to have the home inspected by a qualified inspector.

Should the buyer wish to forego having an inspection done, then get acknowledgement of his refusal in writing, consider if you will, the following Acknowledgement.


TO: (Your Brokerage Firm).


AND TO: (Your Name)


RE: Purchase of 123 Jones Ave, Your City, State/Province.




ACKNOWLEDGEMENT


I, the undersigned hereby acknowledge that you have advised me that the inspection
of the house situated on the above noted property may reveal certain defects and/or
hazzards that may not be acceptable to me.

I, further acknowledge that you have advised me to obtain an inspection of the house
in question by a qualified house inspector and that I declined to do so.

I, further acknowledge that you advised me concerning the adverse affect my decision
may have and I am content to accept the risks attached thereto.


Dated at ................. this ............day of .................................., 20....


Witness:
(Signature).................................) Clients Signature...................................

Important Notice: This information is provided as basic educational information by the author and is not a substitute for the advice of an expert and/or the advice of a lawyer. There is NO representation as to legality, accuracy, correctness of the herein information and the reader is strongly urged to consult a lawyer in the relevant jurisdiction to ensure accuracy before acting on this information

I'm building a home inspectors website now. check it out!

www.wilmingtonhomeinspector.com

I agree that if someone does decline a home inspection you better have them sign another broker/legal department approved waiver!

Any seller in general is going to take the highest priced offer with the least amount of contingencies...BUT, the buyer needs to know what they're getting into. Chances are the guys making offers without inspections are contractors/experienced investors.

You represent your clients best interest...so yes, they should get a home inspection, even if that means losing out on the first property they want.

I always encourage my clients to not only get a home inspection, but make sure they use someone good. I had a young couple, who really were against paying for an inspector, but since it was an older property I really kept pushing them on the issue.In the end they had a "friend who was a builder" do it, but I still had them sign my company's waiver anyway as the guy had no inspection qualifications.

I am a Home Inspector in Minneapolis and I have been called to inspect 3 homes that were purchased without an inspection because the Realtor was worried about having their offer accepted with the multiple offers on the property. Two of these homes looked well kept but once I got into them there were problems that had been covered up. One has a 12 ft horizontal crack in the basement wall, which means the wall is buckling in from outside pressure. A $10,000 fix. The third home was looked at by the husband of the Realtor who is a "handyman" and contractor. Well, it has carbon monoxide issues, terrible insulation and ventilation issues, and rotting of roof sheathing. A $12,000 fix. I used to be a Realtor. I know times are tough. Do you really want to risk these types of issues on your clients? Remember "good news travels fast, bad news travels faster". Your reputation is at stake here. Good Luck!

I would never let a client go under contract without a home inspection contingency clause unless they signed a piece of paper acknowledging they declined the inspection contingency against my better judgement.

I too strongly encourage home inspections. there is one guy who I do not recommend because I've been told by others "If you want a blind inspector, hire him..."

There are two guys who I know pretty well and trust to do a good job.

I pay for the inspection after closing if a client does not want to pay for it, because of the cost involved. A lengthy list of qualified inspectors is provided to the client to select their HI, or they can hire one they prefer.