Redfin
JULY 14, 2025
Failing to deliver required documents (like updated proof of funds or loan pre-approval) by the contract deadlines. Example scenario: The buyer waives the inspection contingency to make their offer more competitive. These contingencies act as legal safeguards, but they must be included in the purchase agreement to apply.
Rochester Real Estate
NOVEMBER 5, 2015
A pre-approval letter must be included, and proof of funds can also help in a seller’s market. The seller might return with a counteroffer based on your offer’s price, contingencies, or other terms. Home Inspection The home inspection will show if this is a property you want to buy.
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HomeLight
OCTOBER 30, 2020
The “as is” label signals that as the seller, you aren’t willing to negotiate on price no matter what comes up in the inspection. However, a buyer could still include an inspection contingency in the contract. Additionally, waiving the inspection contingency makes for a more compelling offer to most sellers.
HomeLight
JULY 31, 2020
These could include: The appraisal contingency : Lenders require an appraisal, but if you are paying cash and you’re confident that the price is fair, you don’t need one. The inspection contingency : As a cash buyer, an inspection contingency is optional. This can save you between $300 and $450.
Point2Homes
SEPTEMBER 30, 2021
You can protect yourself from potential cash buyer scams by requesting ‘Proof of Funds’ documentation and asking for a non-refundable deposit that’s at least 5% of the selling price. If not, the deal falls through. They’re often a sign that the buyer doesn’t actually have the money to buy the house and can’t qualify for a loan.
HomeLight
JULY 31, 2021
Harvell also suggests getting concrete proof that the buyer has purchased properties in their name as part of the vetting process. I’m not talking about a ‘proof of funds’ letter — those are easily manipulated,” he says. “If Verification of funds. Inspection period. Step 6: Pass the inspection.
HomeLight
OCTOBER 20, 2022
Home inspection report. Even if you did a pre-inspection, the buyer will almost certainly do a home inspection – particularly if there are any inspection contingencies in the offer or if the lender requires it. You can ask for proof of funds and a mortgage pre-approval letter. Latest tax statement.
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