Should I Make a Clean Offer on a Home?

If you’re in the process of buying or selling your home, then you may have heard that clean offers are becoming more and more common in today’s competitive housing market. But should you make a clean offer on a home? And what does it involve, anyway? In this blog post, we’ll go over clean offers and some of their pros and cons to help you decide whether it’s the right choice for you.

What Is a Clean Offer?

In short, a clean offer is an offer to purchase a home with few contingencies, or in some cases none at all. This means that the offer is not contingent on certain conditions, like inspections, appraisals, or sometimes even financial situations. When there are no conditions at all, a clean offer may also be known as an “all-cash offer” or “as-is offer.” 

What Are the Pros and Cons of Clean Offers?

There are several pros and cons that come along with clean offers. If you’re thinking of making one yourself, you should taking the following into consideration:

Pro: You’re More Likely to Win the Bidding War 

In many cases, making a clean offer will give you an advantage over other bidders who are making offers with contingencies. This is because the seller knows that your offer is firm and they won’t have to worry about any major roadblocks that could come up during the sale process. 

Con: You Could Be Stuck with a Money Pit 

One of the biggest cons of making a clean offer is that you could be left with a home that has major repairs or problems that you were not aware of. This is why it’s important to do your due diligence before making an offer on a home, and to be aware that you may have to put more money into the home after the purchase. 

Pro: You Can Save Time and Money 

If you’re making a clean offer, it’s likely that you’re also waiving your right to a home inspection. This can save you both time and money, as you won’t have to schedule an inspection and pay for it out of pocket. In some cases, you may also be able to waive your appraisal contingency, which can further speed up the sale process. 

Con: You Could Be at a Disadvantage in Negotiations 

When making a clean offer, you’re essentially putting all of your cards on the table. This could be a disadvantage when it comes to negotiating with the seller, as they may be less likely to budge on price or repairs if they know that you’re not able to walk away from the deal. 

The Bottom Line

Only you can decide if a clean offer is the right choice for you. If you’re feeling confident about the home and your finances, then a clean offer may be a great way to win the bidding war. However, if you’re not sure about the condition of the home or you’re not comfortable waiving your right to an inspection, then it’s probably best to stick with a traditional offer. A clean offer certainly isn’t for everyone, but if the pros outweigh the cons in your situation, then it could be just what you need to land your dream home!

Before making any kind of offer, it’s helpful to have a real estate agent on your side. Click here to contact Hawkins/Ryerse Real Estate Group and get in touch with one of our professionals today!