Inspection contingency Loan contingency Pre-approval Sales 
HomeLight
AUGUST 31, 2021
Ever since the 2008-2009 recession, cash offers have become more prevalent, accounting for 33% of sales as of 2021 — that’s up from 20% in 2019. The most obvious contingency with an offer that requires financing is, of course, the financing itself. In other words, if you can’t secure a loan, you won’t be buying the house.
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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