Austin KlarVanguard Properties · Lawyer Turned Real Estate Agent

How Buyers Make Non-Contingent Offers

Name: How Buyers Make Non-Contingent Offers
Uploaded: 2024-10-31T02:55:00+00:00
Duration: 36 s
Channel: Austin Klar
Description: In this brief Bay Area real‑estate advisory, Austin Klar explains why many buyers submit offers without loan or inspection contingencies. He notes that…

31 Oct 2024 · 1 min

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In this brief Bay Area real‑estate advisory, Austin Klar explains why many buyers submit offers without loan or inspection contingencies. He notes that buyers typically complete lender pre‑qualification and obtain lender approval confidence before making an offer. Simultaneously, sellers provide extensive pre‑listing diligence, including disclosures and prior inspections, which are made available to prospective buyers. This pre‑offer homework reduces risk for buyers, allowing them to present stronger, non‑contingent offers with confidence that the property will not fall out of escrow once under contract. Klar concludes by encouraging viewers to follow him for more Bay Area real‑estate tips.

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How are so many buyers in the Bay Area writing offers without loan or inspection contingencies? Well, it's because the buyer has done their homework with their lender before making an offer, and the seller has done a ton of pre-listing diligence, disclosures, and investigations that are made available to buyers before they even make an offer. It's definitely not like buyers are going into these things blind and taking a ton of risk. They're just doing their homework before they make an offer instead of after. And by getting comfort from your lender that you're going to be approved for a loan and going through all the inspections that have already been done, you can make your offers stronger and with confidence that you know what you're getting into, and it makes it less likely that the home falls out of escrow once you're in contract. Follow me for more Bay Area real estate.