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What Is a Mortgage Contingency? Purchase Offer Protection

HomeLight

Perhaps the biggest gear that needs to turn in your favor is the mortgage loan. Get Started What is a mortgage contingency? A mortgage contingency is a clause in a real estate contract that makes the purchase contingent , or dependent, on the buyer securing a mortgage loan. How does a mortgage contingency work?

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What’s the Deal with Making a Cash Offer on a House?

HomeLight

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!) The inspection.