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Why would someone buy a house without an inspection?
Offers that waive a home inspection contingency can be more attractive to home sellers since theres less likelihood that the buyers will find some expensive problem that theyll demand to be fixed before they move forward. Generally, waiving a home inspection is done to speed up the closing process.
Is a home inspection required in Maryland?
The state of Maryland does not require a WDI inspection, but they do require that certain minimum standards are met if a WDI inspection is performed.
How many people waive a home inspection?
In 2024, depending on the month, anywhere from 19 percent to 25 percent of buyers are still waiving their inspection contingency, ing to the first six Realtors Confidence Index Surveys published by NAR this year.
Is waiving a home inspection a good idea?
You should always have a home inspected before buying it. But in a very competitive market, waiving the inspection contingency meaning you still want the information, but you wont hold the seller responsible for making or paying for repairs can be a smart move.
Why would a seller want to waive inspection?
Sellers might choose not to allow a home inspection for several reasons: Avoiding Negotiations: A home inspection can reveal issues that might lead to renegotiation of the sale price or demands for repairs. By skipping the inspection, sellers may hope to avoid potential price reductions or repair requests.
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An inspection contingency clause states something like, Buyers obligation to purchase is contingent upon Buyers inspection and approval of the condition of the property. Another variation states that the Buyer may hire a home inspector to inspect the property and that the Seller must fix any issues found by the
What is a property inspection addendum?
inspection addendum or clause. in a contract to buy or sell real estate, a clause or attachment that allows the buyer (or a qualified party) to inspect the property. If repairs are needed, the seller may be allowed to perform the repairs up to a dollar limitation or choose not to sell.
Related links
Maryland Residential Property Disclosure and Disclaimer
You may wish to obtain professional advice or inspections of the property; however, you are not required to undertake or provide any independent investigation
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