If you’re looking to purchase a home in Massachusetts, Rhode Island, New Hampshire or any state right now, you must be aware that this is a serious seller’s market. In fact, in 2021 the number of homes for sale has decreased, but the average home price has soared.
Buying in a seller’s market means you’re likely going to encounter a bidding war – and the bidding wars are about more than just sellers picking the buyer who offers the highest price. In order to sweeten the pot and make offers more attractive buyers are waiving the home inspection contingency. This can lead to serious issues down the line in the form of unforeseen electrical, roof, foundation, or plumbing problems. In fact, unexpected repairs and maintenance issues topped Zillow’s recent list of homebuyer regrets.