An Offer Without Inspection Contingency.. This can't be normal!
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.
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Savvy sellers know that an inspection contingency is often a tactic used by buyers to lock up a property and really begin negotiating the price after the property is off the market. An offer with a no inspection contingency tells me that the buyer is strong, capable and will close at the contract price. All my offers have been made without inspection contingencies.