Fleishman and Remenowsky, who married last year, threw away any offers that did not meet or exceed their asking price, said Tim Tepes, their real estate agent and co-owner of Lehigh Valley-based Assist 2 Sell Realty. Further, Tepes said, the eight remaining bidders qualified for conventional loans — requiring higher credit-score criteria than a standard FHA loan.
After a bidding day that began for Tepes at 5:30 a.m. and ended at 12:30 a.m., they landed on an offer that included no tests or inspections.
“It’s not the norm, but I’m seeing more of it,” Tepes said.
One of the properties Mahon is negotiating has two identical offers in terms of price and financing terms, but one is waiving inspections. And that’s the one the seller is leaning toward, he said.
In the end, such terms are what made the deal for the Rentzes. They removed contingencies — written provisions that must be satisfied before a contract is binding and can cover areas such as home inspections, appraisal values and selling one’s home — and offered a flexible closing date.
“We knew the terms would win the day for us,” Darryl Rentz said.