{"id":19995,"date":"2022-01-26T13:49:50","date_gmt":"2022-01-26T13:49:50","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=19995"},"modified":"2022-01-26T13:49:52","modified_gmt":"2022-01-26T13:49:52","slug":"fewer-buyers-waiving-contingencies","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/fewer-buyers-waiving-contingencies\/","title":{"rendered":"Fewer Buyers Waiving Contingencies"},"content":{"rendered":"\n

Home shoppers are showing less willingness to waive appraisals, home inspections, or other contract contingencies during the purchase of a home compared with just a few months ago, according to the December 2021 REALTORS\u00ae Confidence Index Survey, a survey of REALTOR\u00ae transactions conducted by the National Association of REALTORS\u00ae.<\/p>\n\n\n\n

Nineteen percent of buyers waived the inspection contract contingency in December, down from a peak of 27% in July 2021, NAR\u2019s survey shows.<\/p>\n\n\n\n

Twenty-one percent of buyers waived the appraisal contract contingency, down from a peak of 29% in June 2021.<\/p>\n\n\n\n

\"A<\/figure>\n\n\n\n

Buyers also were less willing to waive other contract contingencies, like a financial contingency (10%), a home sale contingency (8%), or a title contingency (1%).<\/p>\n\n\n\n

\u201cWith home prices continuing to rise, buyers are making sure they are getting their money\u2019s worth,\u201d Gay Cororaton, an NAR researcher, writes on the association\u2019s blog.<\/p>\n\n\n\n

The median existing-home sales price increased to $358,000 in December 2021, marking a jump of nearly 16% year over year, according to NAR\u2019s data.<\/p>\n\n\n\n

Another possible reason buyers are less willing to waive contingencies is that appraisals appear to be moving faster, Cororaton says. \u201cWith the onset of the pandemic, appraisal issues accounted for a higher fraction of contract settlement delays, from about 15% prior to the pandemic in January 2020 to a peak of 27% in July 2021,\u201d she writes. In the past three months, appraisals comprised just 22% of contract settlement delays for comparison.<\/p>\n\n\n\n

\u201cThe decline in buyers who are waiving appraisal and inspection contingencies is a healthy trend,\u201d Cororaton writes. \u201cBuyers should pay for what a home is worth and be informed of potential issues that need to be addressed by the seller or anticipated by the buyer if the buyer wants to take the responsibility for addressing this issue at their own cost.\u201d Source:\u00a0\u201cDecember 2021 REALTORS\u00ae Confidence Index Survey: Fewer Buyers Waiving Appraisal, Inspection Cotnract Contingencies<\/a>,\u201d National Association of REALTORS\u00ae Economists\u2019 Outlook blog (Jan. 24, 2022)<\/p>\n\n\n\n

\u00a9National Association of REALTORS\u00ae
Reprinted with permission<\/p>\n","protected":false},"excerpt":{"rendered":"

Home shoppers are showing less willingness to waive appraisals, home inspections, or other contract contingencies during the purchase of a home compared with just a few months ago, according to the December 2021 REALTORS\u00ae Confidence Index Survey, a survey of REALTOR\u00ae transactions conducted by the National Association of REALTORS\u00ae. Nineteen percent of buyers waived the … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-19995","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nFewer Buyers Waiving Contingencies - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/fewer-buyers-waiving-contingencies\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fewer-buyers-waiving-contingencies\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fewer-buyers-waiving-contingencies\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Fewer Buyers Waiving Contingencies\",\"datePublished\":\"2022-01-26T13:49:50+00:00\",\"dateModified\":\"2022-01-26T13:49:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fewer-buyers-waiving-contingencies\\\/\"},\"wordCount\":319,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fewer-buyers-waiving-contingencies\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/magazine.realtor\\\/sites\\\/default\\\/files\\\/styles\\\/asset_image_full_content\\\/public\\\/assets\\\/images\\\/1.25.2022_waivingcontingencies.png?itok=u6QpjHfM\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fewer-buyers-waiving-contingencies\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/fewer-buyers-waiving-contingencies\\\/\",\"name\":\"Fewer Buyers Waiving Contingencies - 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