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