Risks & Home Inspections
Focus Real Estate
Risks & Home Inspections
- Welcome back. We're talking again about risk and real estate and where that falls with home inspections.
- A lot of these risk reductions, home contingencies are risk reduction for buyers. A buyer, when they have a home inspection contingency, that's a back out for them. And that helps them reduce some of the risk. Gives them an out.
- When we look at this towards buyer, it's one perspective and then you change that perspective with the seller, right? So, when a seller has two competing offers, and this just happened with us, one with a mortgage contingency but no inspection, and one with an inspection contingency, but no mortgage.
- Mortgage contingency.
- The weakest link is always the inspection with a good preapproval. That's your weakest link in a transaction for a seller. So, they decided to take all other things being the same.
- No home inspection contingency, and went with a buyer who had a mortgage contingency.