Buyers waiving Inspection/contingency

Same . smh

It is what it is. The sun shines for everyone in this business.
The idea is, get a full body sun tan and remember, ‘get a bikini wax’ so your are fully tanned. :grinning:

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Interesting metaphor. But I think I’m picking up what your laying down! :laughing::+1:

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Who are they going to sue now when they don’t like their homes and there’s no inspector to try and screw?

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I am also a new inspection company owner and it has been nothing short of brutal with a massive rush of people cashing in on their Toronto area homes and gobbling up houses sight unseen here. I have been pushing post-sale and maintenance inspections and getting away from the idea that inspectors are tied to realtors and planned for a lean year but it has been worse than expected to say the least.

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Yeah it’s unfortunate to say the least, out here in Seattle theres a demand for Pre-inspections which I don’t like at all but it is what it is.

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You must have missed this video I posted a month or so ago…

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Thanks Jeffery!! I appreciate the heads up! I’m circulating this video as we speak to my agents, In case they need reminding.

Great share!!

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Welcome to our forum, Michael!…Enjoy, the water is warm, most of the time! :grinning_face_with_smiling_eyes:

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Although I’m fortunate enough to be staying busy, my phone is ringing less than half it normally does this time of year. Personally I’ve never seen it this bad for this long.

And although I don’t like this market, I don’t see an end to this insanity anytime soon.

In my area, for every house that goes on the market there are on average 20 people looking at it - on day one, and of those 20, at least half are making offers.

There will be only one winner.

Now take into consideration the pent-up demand that this market is creating, and has been creating coming up on a year now, then throw in the ever decreasing inventory, it’s clear at least to me that this problem isn’t ending anytime soon, at least in my area.

YMMV depending on your market.

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Yeah it’s kinda scary!! Most of my wife’s family are contractors and general contractors and we have a building boom on our hands, but the price of lumber is slowing it way down. I also have some friends that work for big builders and they tell me that they’re rounding the corner and hope to be churning out homes at a record pace…now if that’s going to be enough to ease the crunch I don’t know, but at least there is some progress being made…or not🤞

Halifax has officially lost its collective real estate mind. A house on my street just sold for DOUBLE what a comparable sold for 4 years ago at almost $525,000! I live in the suburbs in a regular middle class (with a capital M) neighbourhood. At this rate I would be happy if they would just call me for 5 minutes.

One thing is for sure: this is a dream market for sleazy homeowners to dump their garbage.

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I can’t read all that. And all the rest of the post. What if a buyer does not get a home inspection. They’re flipping idiots. I hope they got a lot of money in their pocket. Because it will be gone soon. In my over 40 years of doing this. I’ve seen atrocities. Good luck for them. They’ll probably end up drowning in their own blood.

Again same here, Seattle/Bellevue market is already ridiculously over priced and now people are getting $300’000 over an already inflated price…greed all around.

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Your actually finding realtors in there offices? Not much of that going on around here.

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Some, but I don’t have to find them there just the managing broker, office manager or “agent on duty”. I schmooze which ever one of them is at the front desk drop off some promotional flyers, bussiness cards…maybe call ahead and bring them some coffee or what have you and bobs your uncle I’m top of mind the next time they need an inspection. I do what ever it takes for them to remember me. But open houses with care/survival packages in hand and a gift for gab is my bread and butter. Now with that said I can be in their face until the sun goes down but that’s not going to convince their buyers to not waive inspection😞.

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Our market has a usual June lull, mostly due to buyer vacations. Here we still have some crazy bidding wars but those were typically in the February, March, April and May months. I know that some buyers are waiving inspections but that is not the norm here. The new norm, at least right now, is buyer gets an inspection, but either limits or waives the inspection objection portion of the contract. But once a house goes under contract the buyer has all the power and can walk away for any reason, usually they use the loan as the reason at the loan termination deadline

Currently in Denver there are less properties available but there are more closings than last year (probably covid related) right now 1 in 4 properties that goes under contract falls through and is back on the market. The most common reason is buyers remorse, followed by the appraisal gap that no one is willing to cover. The appraisals are catching up to the market but they are still behind “market value”.

Be encouraged your hard work will pay off. If you start your business in a lean year and make it you’ll be all the more stronger for it.

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The current condition of the real estate market is NOT a bubble. What we are experiencing is crash in listings which is quite different from a bubble.

The past bubble 2006-2009 was fueled by no-down, no-documentation free-money speculation which is not happening in this market. Today’s buyer is in many cases flush with their own cash as opposed to past bubble buyers some who never made the first mortgage payment.

This is a simple supply/demand issue which will not end in a price crash, I doubt that we will ever see the spectacular price drop of the last crash when some homes were discounted by as much as 50%. This issue will be solved by new homes being constructed and will end in a whimper when demand is met by increased supply.

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That’s a good analysis Joseph. Covid has also impacted the supply of existing homes for sale over the past year and a half. Many were/are reluctant to pack up and move during a pandemic. This supply restriction should go away as covid eases, and more people find out if they can remain working remotely, which allows them the freedom to move further from their workplace.

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And many more came to realize their houses suk for being imprisoned in with multiple children and no school to push them off to for a full year!!

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