Reply to How does "no contingencies" actually work

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[quote=Anonymous][quote=Anonymous]bridge loan, or they (or their parents) have the cash, or they sell first and rent until the perfect house comes up.[/quote]

+1 this is how it's done.

It would be very difficult to be competitive with a home sale contingency. We didn't even consider the offer with a home sale contingency when we sold. The financing contingency would be more likely to be accepted, but any seller with options would pick the no contingencies offer if all else is the same. The last home we sold, we insisted on no contingencies at all. Pre-inspection then contract with no contingencies. The market allowed us to do that, so of course we did.

One other option is if you have the down payment and you qualify for the loan without selling your current home, then you could just not put the home sale contingency or financing contingency in the offer and do a pre-inspection. It would be riskier for you and it still wouldn't be a cash offer, but at least it would have no contingencies. It depends on your risk tolerance and how competitive the market is where you're looking to buy. Good luck OP![/quote]

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