An Offer Without Inspection Contingency.. This can't be normal!

[Jason James]

I'm in a fairly hot Multifamily market in Northern California. My agent and i just made really strong offer, over asking price with a 30 day close. We were beat out by the same offer, without a inspection contingency. I'm just curios has anyone ever made an offer like this in the past, or currently using this strategy? Id imagine this strategy will vary based on experience, REI knowledge, resources and potential ROI , but this is a high risk strategy in my opinion. I would love to get everyone's thoughts on how they used it and why.