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Reply to "How does "no contingencies" actually work"
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[quote=Anonymous]Yeah, this is a harsh reality of the housing market here. It’s just too big a hit to your competitiveness to have a house sale contingency on your offer. You have to figure out a work around. Talk to your lender. You can think of it this way: a sale contingent offer has always had to be higher to beat a cash offer. The seller of your new house assumed the risk for that higher cost. But there were fewer cash offers, so it didn’t always matter. The landscape has changed quite a bit. So now, you and/or a financial institution need to assume that risk, so the way you pay for it has changed too. [/quote]
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