Here’s how inspections are changing in our present real estate market.

Why are so many buyers eliminating inspections during the offer process? First, the real estate market is currently very competitive. When sellers have 40 to 50 offers to choose from, they’ll pick the one with the most certainty, so any offer that comes with a contingency is less appealing. Inspections mean more risk for sellers.

We’ve also seen a slew of sellers having pre-inspections done before listing, taking care of anything that needs to be fixed, then presenting the inspection to buyers viewing the home. When you have certainty for both the buyer and seller, you’ll have a much smoother transaction. When the market neutralizes again, we’ll likely see all inspections being done by buyers once more.

“When sellers have 40 to 50 offers to choose from, they’ll pick the one with the most certainty.”

Additionally, we’ve seen inspectors changing the way they do inspections. Some are doing visual walk-throughs with buyers before they make an offer. That allows buyers to have a qualified inspector check out the house and have more certainty before making an offer. This is a strategy for buyers who really need an inspection, despite the present trend of waiving inspections. This strategy has only come about since the pandemic began.

The bottom line is that certainty is what buyers and sellers desire in today’s market. As always, if you have questions about inspections or any other real estate matter, please call, text, or email us. We’re always here to help.