No inspection period

[Hector Lewis]

Hello,

I am about to put in an offer on a duplex. Usually I thought there was an inspection period of 10 days but the realtor told me there is no inspection period for this property. That means the home inspection would need to be completed before the offer was put in. Then if I put in an offer and it was accepted then I would put a $5k binder which non refundable. I just want to make sure this sounds right. Every time I have gone through this process I usually put in an offer that is contingent on the home inspection and this seems to be in reverse. If you could give me your input that would be great.

Thanks,

Hector

[Dwayne Poster]

In my market, sellers are waiving the disclosure, and buyers are complying with no condition offers. I couldn't get a seller to remediate a buried oil tank, so let it go to a buyer who negotiated a 50K discount to waive. He'll probably be ok (I hope), but we had a case where the remediation was a 150k hit to the seller. Make sure you understand the implications.