Applied Measurement Professionals (AMP) Real Estate Salesperson Practice Exam

A buyer can generally waive inspection contingencies to make their offer more appealing, and this choice inherently involves some risk. By waiving an inspection contingency, buyers signal to sellers that they are confident in their decision and are willing to proceed without the findings of a physical inspection potentially complicating the transaction. This strategy is often employed in competitive markets where multiple offers may be at play, and a stronger offer can help a buyer stand out.

Waiving inspection contingencies comes with the understanding that if any significant issues arise with the property after the purchase, the buyer may face costs and headaches dealing with those issues on their own. Therefore, while this strategy may strengthen an offer, it requires buyers to be certain about the property condition or to be willing to accept the risk involved.

In contrast, other options do not capture the primary motives and implications of waiving inspection contingencies. For example, waiving to save time is indeed a consideration, but it doesn't fully encompass the strategic intent of making an offer more attractive to a seller. Similarly, waiving inspections solely for newly constructed homes under warranty is not universally true, as buyers may still want to ensure everything is up to code regardless of the warranty. Lastly, requiring proof of prior ownership experience is not a