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Real Estate
Reply to "Waiving finc contingency -- what are we risking?"
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[quote=Anonymous][quote=Anonymous]As an agent once told me: “Its fine to waive most contingencies. However don’t waive the financing contingency, unless your dad owns bank or you can pay cash for the entire house.”[/quote] This is my fear. It sounds like waiving finance contingency is basically gambling that the seller views moving on to try to sell the house to someone else as such a hassle that they would be lenient and give you extra time, etc., if needed (lender running a few days long, title search running long, something amiss with getting homeowner insurance, etc.). But if there is a bidding war...the seller could just as easily declare the contract in default, pocket your earnest money, and have their agent contact other folks who bid on the house. Right? Or am I missing something?[/quote]
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