Banks Closing costs Loan contingency Pre-approval 
HomeLight
AUGUST 31, 2021
A cash offer simply means that a buyer already has the funds available to buy the house and can pay for it without securing a mortgage loan. From the seller’s point of view, it doesn’t make much difference whether the cash comes from the buyer’s personal bank account or from a mortgage loan. Though you can (and should!)
HomeLight
MARCH 23, 2022
If they have underwriting approval, versus just a preapproval, they’re a much stronger buyer than someone with just a preapproval letter. Once you’re preapproved, your offer on a home is more likely to be accepted because you’ve made it further in the mortgage approval process. Only include essential contingencies.
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