Avoid The Mistake Of A Non-Contingent Offer With These Tips!

How To Avoid A Non-Contingent Offer

Don’t get stuck with a non-contingent offer!

Contingent offers are there to help protect the buyer. Should the home for one reason or another fail to meet certain criteria, the offer is off the table. When you don’t make a contingent offer, you face potentially expensive issues on your new home. Check out how making a “non-contingent” offer puts you at risk.

Inspection.

When it comes to home inspections, you never know what you may find. Having an offer that requires a professional home inspection is vital to ensuring that your new home is in proper working order before you commit to homeownership. In the event that you make a non-contingent offer, you risk moving forward with the sale, with a broken home. These damages can be costly to fix out of pocket. Make sure to play it safe and make a contingent offer that includes a professional home inspection.

Appraisal.

Adding in a home appraisal as a condition of your purchase is a must to ensure you’re getting a home for the right value. In some instances, the value of the home is less than the amount you’re going to pay for it. If you love the house and you still want to proceed, by all means do as you wish, however, a contingent offer allows you to back out of the offer. When you make a non-contingent offer, you risk purchasing a home for more than it is worth.

Mortgage.

Should you make a non-contingent offer and a home and later find out that you don’t qualify for a loan, you can get into some hot water. Make sure that you have a contingent offer that allows you to back out of the purchase if you fail to get a proper mortgage. This way both you and the seller are protected.

When buying a home make sure that your offer has all the right contingencies outlined. For assistance with your home buying process, be sure to contact professional Realtor Cary Amo in Lafayette, California for all your real estate needs.

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