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. There’s no financing contingency. The inspection. Updated August 31, 2021.

Due diligence 79

Due diligence Inspection Pre-approval Pre-qualification 79

Redfin

SEPTEMBER 2, 2020

If you have been pre-approved for a specific amount, the house may not appraise for a higher price bidding wars often get to. However, when it’s a seller’s market , with more homebuyers looking to buy than available houses listed for sale, this creates a perfect storm for multiple offers and a bidding war on a property.

Pre-approval 79

Pre-approval Loan contingency Agents Banks 79

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.

Pre-approval 96

Pre-approval Marketing Inspection Finance 96