Buyer Alert on a buying tactic that is not safe to use

By
Real Estate Agent with First American Team Realty, Inc BRE# 01048604

 

California Home Buyer Alert!
 
Due to the lack of inventory in today's marketplace.  Many real estate agents are convincing their buyers to submit offers with no contingencies in place. I, as a REALTOR, believe that we have a responsibility to protect our clients, and I consider this a very dangerous tactic for a buyer to use due to the increased risk factor to them.
 
Here is a link to a PDF relating to "Non-Contingent Offers" that will shed some light on the matter, and why a buyer should consider not using this tactic unless you are fully aware of the possible end results. https://tinyurl.com/yzht8y36
 
Based on my experience in the real estate industry, it would be safe to say that the majority of agents will have not fully informed their buyer(s) of the ramifications of this aggressive tactic. Now, it should be understood that there will be those handfuls of buyers who are buying with all cash or are overly qualified and because of this are in a safe position to use this tactic.
 
If you have a question or wish for some solid advice. You can just reach out to me by calling, text messaging, or emailing me. I am user-friendly and seeking to be a trusted source for information that will benefit you as a buyer or seller.
 

Comments (1)

Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

No contingency contracts are risky especially as there will always be inspection issues on an older house.

Apr 26, 2021 12:28 PM