Maryland, D.C. and Virginia standard home contracts have been revised according to The Greater Capital Area Association of REALTORS (GCAAR) and the Northern Virginia Association of REALTORS (NVAR) to no longer include standard contingencies.
This means the buyer’s need for a thorough home inspection is doubly important. Buyers can no longer be assured that the property they are considering will have basic functioning amenities. Homes sold under the new contract will be completely ‘as-is.’
A home inspection is now, more than ever, a necessity for a new home purchase.
The seller no longer has any obligation to ensure that anything is in normal working condition. Now it’s all negotiable.