Day: July 30, 2020

More Homebuyers Are Waiving Contingencies to Win Bidding Wars

More buyers are making concessions to win bidding wars amid a deepening housing shortage, record-low interest rates.

In June, 19.9% of successful offers submitted by Redfin agents in select major U.S. markets waived the inspection contingency, compared with just 13.2% during the same month in 2019. Winning offers waived the appraisal contingency at a similar rate—20.6%—up from 17.4% in June of the prior year and representing the largest share since at least 2018, when Redfin began tracking this data.

Waiving these contingencies is a common strategy homebuyers use to make their offers more competitive by assuring the seller that the

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Bellevue Hill house Oculus comes with $2m discount

No. 73A Victoria Rd, Bellevue Hill, goes to auction on August 22.

What a joy it would be to own this Bellevue Hill masterpiece — a house like no other. Its name, ‘Oculus’ — which means “a round or eye-like opening or design” — is a hint of what’s in store.

But apart from the circular design and the partly domed room that fills the interiors with natural light, it was the bespoke finishes that really bowled me over.

The six-bedroom, five-bathroom home with six-car garage at 73A Victoria Rd is now up for August 22 auction via the Sotheby’s

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