Here are some common issues that can occur after an offer is accepted.
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In this competitive home-buying market, we’re seeing certain issues come up after an offer is accepted. One of the main issues is low appraisals. When an appraised value is lower than the agreed-upon price, a decision needs to be made by both parties.
Buyers are crafting their offers to suit sellers who are nervous about the competition for their homes. We’re also seeing buyers forgo inspections and purchasing homes as is. They’re offering post-closing possession to sellers who are anxious about being able to find a new home quickly. This allows them to stay in their current home for a little longer while searching for their new home.
"Buying a property with structural issues will haunt you."
The one big concern I have with offers like this is if you choose to buy a property without an inspection. Even if you don’t plan on asking for repairs, it’s still important to have someone look at the house before you buy it. If you’re buying a property with structural issues, it's going to haunt you for years to come. There were situations back in 2007 and 2008 where...