Advised to waive contingencies

[Nikolas K.]

We have been advised to waive contingencies when we make an offer here in Seattle. Is this the norm in this market?

[Ned Carey]

@Nikolas K. in hot markets that is often the case.  Just because that kind of offer is the temporary norm in a hot market, that does not mean you should do it. Are you in a positions to lose your Earnest money deposit? Is buying into a hot market the right play for you now? I know I don't want to do that. 

Are you buying a home to live in or an investment property? I normally buy and sell investment properties with no contingencies.  If you can't asses the repairs needed without an inspection clause you are probably to  new to be buying the kind of serious rehab properties I sell.  If you are not confident enough that you can come up with the funds for closing then I don't want to sell to you. 

In a hot market perhaps the best approach is look for off market deals.