Philadelphia / Philly Accepted Offer

[Tim Robinson]

Hello fellow investors! I'm a new investor and recently set my sights on the city of Philadelphia. I have an accepted offer on the property i'm interested in. However the Docu-sign contract that I received only allows me to initial where i waive all my rights to have the property inspected, Radon Etc. Does that seem odd or am I being an overly careful rookie?

[John Knisely]

How do you have an accepted offer without having signed the Agreement of Sale? Verbal offer? 

Your agent or the listing agent would have set this up such that you can only initial the Waived column. If this was not your expectation I would absolutely talk to your agent to make sure you are on the same page. 

Waiving all of these contingencies essentially means you have no negotiation opportunity or backout option should you discover any other material issues before settlement. Only other main contingency you may have on your side is the mortgage contingency (assuming you've elected it) in Section 8A of the PA AOS.

I don't recommend newer investors to waive all property condition contingencies unless you've had a trusted contractor or inspector do at least a full walkthrough.