In Omaha’s ‘crazy’ market, no inspection and no large down payment are the keys to buying a home local news
“The children are coming home,” said Rensch. “I think it’s a testament to how Omaha is growing and doing the right thing to retain talent.”
Because the Omaha real estate market is so tight, the way people have traditionally bought a home has changed.
Many buyers forego a home inspection. In fact, Manhart says if you ask for one, you probably won’t get the house.
“If your listing doesn’t say, ‘Leave the keys on the counter and get out,” he said, the salesperson could choose one of several other offers.
Sellers are also much more likely to work with a buyer with a traditional loan or cash offer than with someone with an FHA or VA loan.
Much less red tape is required and the home purchase completes on schedule.
The ability to offer a 20% down payment shows financial stability and the more likely the sale will go without hiccups.
While low interest rates make home ownership more accessible, Manhart and his partner and wife Jennifer recommend that anyone looking to buy should do what their parents once did instead of jumping into the market with little cash for a down payment.
“Our parents saved, saved and saved and bought a house,” he said.