Buying Highlands NC Real Estate, Can Contingencies Interfere?
Do contingencies interfere when buying Highlands NC real estate? Buying real estate is very competitive right now and it is not unheard of for offers to exclude contingencies. While the exclusion of contingencies can be attractive to sellers, buyers need protection. A purchase offer should be well thought out and carefully crafted. Buying a home is a big investment and should never be entered into lightly. As a result, having an experienced Highlands NC REALTOR is a critical guide throughout the negotiation process.
What are contingencies?
Contingencies offer protection for both buyers and sellers. An inspection contingency is a great example of a contingency that protects a buyer. The home inspection will reveal the health and condition of a Highlands NC home for sale. When seemingly large issues are revealed, a cracked foundation, for example, an expert can be called in to determine the extent of the issue. An inspection will help a buyer avoid surprises but also allow for further negotiation should large issues arise. Another common contingency is the finance contingency. It is important for a seller to be able to get out of a contract when a buyer cannot obtain a loan.
How can contingencies interfere?
Let’s face it, a seller lists a Highlands NC home for sale because he wants to sell it. In a dream world, this will be a simple and quick proposition. The inspection contingency can certainly derail a sale if large issues arise and the issues are either too much for a buyer to want to take on or a seller refuses to make repairs or cover the repairs. Likewise, an appraisal contingency can prove that a home is valued less than the purchase price. This can easily make a buyer rethink the purchase.
Learn more about buying Highlands NC real estate
Contact our team at Berkshire Hathaway HomeServices Meadows Mountain Realty today to learn more about buying a home in Highlands NC. We welcome the opportunity to update you on the market while answering all of your questions. Let our knowledge and experience serve as your guide to buying Highlands NC real estate.
Click here to read “Contingent Offers May Not Hurt You As Much” from REALTOR Magazine.