Buying a home in the current market can be as competitive as ever. With demand sometimes double the supply, home buyers are having to turn to potentially risky tactics in order to get the seller's attention. Here are some of the bigest risks that homebuyers are willing to take.
Contingency-free and contigency-light offers- The easiest way to turn heads and get the attention of the seller is to get rid of the protections that are ususally found in an offer. The most popular contigencies being removed is financing and inspection.
Bidding on low-ball listings- Some sellers will list their home below face-value in hopes that a bidding war will bring the price up. Certain buyers have an eye for spotting these "bargain" homes and will bid on them. The danger is if you end up buying the house for more than it is really worth.
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