Are contingencies being accepted again?

[Anonymous]

Are many sellers accepting contingencies on offers anymore? Or is that a thing of the past? Houses are definitely sitting longer than they used to, at least outside the beltway. Can you do an offer with a contingency to sell?

[Anonymous]

Do what works for you, and don't let your agent bully you into making an offer that you're uncomfortable with. If you need to make an offer with contingencies, do it. If your agent pushes back, get a new agent; they're supposed to be your advocate, not push you to do something that will get them the fastest commission.

[Anonymous]

Considering everyone in the market is bidding for limited supply, I would think contingencies are still off the table. In my area, vienna, the supply is so light you will get outbid easily esp with contingencies

[Anonymous]

Anonymous wrote:Considering everyone in the market is bidding for limited supply, I would think contingencies are still off the table. In my area, vienna, the supply is so light you will get outbid easily esp with contingencies

It depends upon how long the house has been on the market.

[Anonymous]

We just sold; got a handful of offers. Took a lower price w/no contingencies. If it’s a decent house in a good area, it will make your offer less competitive. Home sale contingency in particular, as many people sell so they can buy; inspection or appraisal contingencies less so.

[Anonymous]

We went under contract last month about 24 hours after listing. The offer was no contingencies

So, yeah, I think it’s still a thing

[Anonymous]

The new normal seems to be no contingencies in the first 48-72 hours. If the house is not under contract quickly, then you can put in an offer with contingency or contingencies. Houses in high demand areas are still going quickly and without contingencies, but if the lurking pouncers don't grab a house within the first 72 hours, you have more leeway.

[Anonymous]

Anonymous wrote:The new normal seems to be no contingencies in the first 48-72 hours. If the house is not under contract quickly, then you can put in an offer with contingency or contingencies. Houses in high demand areas are still going quickly and without contingencies, but if the lurking pouncers don't grab a house within the first 72 hours, you have more leeway.

When people say "no contingencies" are you saying no contingencies at all, including the financing contingency?

[Anonymous]

Anonymous wrote:The new normal seems to be no contingencies in the first 48-72 hours. If the house is not under contract quickly, then you can put in an offer with contingency or contingencies. Houses in high demand areas are still going quickly and without contingencies, but if the lurking pouncers don't grab a house within the first 72 hours, you have more leeway.

Agree with this. My house in Rockville had 5 offers at the end of the first weekend and went under contract for $40,000 over list price. It was listed "as is" and we took the all cash offer to avoid contingencies. We left $10,000 on the table (actual highest offer was $50,000 over list price) but thought it was worth it to avoid contingencies.

[Anonymous]

Contingencies were accepted even during the height of the market in 2021. Only on this forum where people are looking at the most pristine homes in the most desirable neighborhoods for UMC families is it he norm to waive all contingencies.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The new normal seems to be no contingencies in the first 48-72 hours. If the house is not under contract quickly, then you can put in an offer with contingency or contingencies. Houses in high demand areas are still going quickly and without contingencies, but if the lurking pouncers don't grab a house within the first 72 hours, you have more leeway.

When people say "no contingencies" are you saying no contingencies at all, including the financing contingency?

From my experience, "no contingencies" means no optional contingencies. The only one that is typically state or county mandated is the HOA contingency. I've heard of two friends who had "no contingency" bids on their properties and buyers use the HOA contingency to get out of it. But no financing, no appraisal, no inspection, and no prior home sale contingencies.

[Anonymous]

Anonymous wrote:Contingencies were accepted even during the height of the market in 2021. Only on this forum where people are looking at the most pristine homes in the most desirable neighborhoods for UMC families is it he norm to waive all contingencies.

I bid on 3 houses is an area routinely sh!? on by DCUM and lost to $75k+ over with no contingency offers on all of them.

[Anonymous]

Just lost out in the exurbs, we were the highest offer but they went with a lower one because they had no contingencies.

[Anonymous]

To waive the financing contingency essentially means that you're paying all cash?

[Anonymous]

Anonymous wrote:Just lost out in the exurbs, we were the highest offer but they went with a lower one because they had no contingencies.

Ashburn??