(no subject)

[chhotii]

Who the heck would by a condo with no inspection contingency?

These guys claim to be holding out for an offer with no inspection contingency. Ah-hah, that's how you manage to fail to sell the only 2-bedroom apartment in East Cambridge with a yard that's on the market for an asking price of less than half a million dollars, even after more than one open house. Because it's a condo, if it turns out to be structurally fubar after you buy it, it's not like you can knock it down and build your dream house on the lot; it's a condo. Who isn't going to be wary of this possibility, after the seller's realtor nixes the inspection contingency? What else could one be thinking-- "It's so cute, I'll die happy if it falls down on me"?

What do you want to bet this one is still on the market in a couple of weeks?

Comments

[quietann.livejournal.com]

My guess is that there is something very, very wrong with it, and they know it, and are trying to weasel their way out of disclosing it and/or fixing it. Which is idiotic, really, unless it would cost $100K to fix.

[whitebird.livejournal.com]

Oh wow, that's totally bizarre...

[ceo]

Run. Away. Screaming.

Any bets on what the problem is? I call black mold.

[mangosteen]

My bet is on a leaking oil tank or sewage seepage.

[surrealestate.livejournal.com]

Not having an inspection contingency doesn't mean someone can't do an inspection. It just means their offer can't be contingent on it, the sellers don't want to negotiate based on what they find, and if they back out as a result, they don't necessarily get their deposit back. No-inspection-contingency offers are very common in the current market.

[achinhibitor.livejournal.com]

I've heard claims that a friendly inspector can always find some reason to back out of an offer. Is that a factor in demanding no-inspection-contingency offers?

[frotz.livejournal.com]

From my perspective as a seller (but not of that property) yes, kinda, though I don't see the big problem as buyers wanting to weasel out of an offer as much as that there are too many buyers with unrealistic expectations of perfection from whom an initial offer contingent on inspection is just about meaningless. If the real negotiation is going to start after the inspection, I'm not going to keep a place off of the market for weeks in prime selling season only to find out that the buyer's demands include $50k off because it's not this year's kitchen.

[achinhibitor.livejournal.com]

Perhaps they figure they'll find a buyer who will think it's a safe bet there will be a greater fool next hear?

Wait, weren't we doing that a few years ago? How well did that work out?