| Wicked Local
Q: We have been looking for a new home since the spring. There have been at least a half a dozen properties that we liked and made a bid on. Each one has had multiple bids and our offer was not selected. What do you think about removing some of the contingencies from our offer, such as appraisal, financing and home inspection, in the hopes that the lack of contingencies will make our offer more attractive to sellers. Good idea?
A: You are right about the state of the market in many areas. A lack of inventory, coupled with low interest rates and lots of buyers, has resulted in a very competitive landscape for buyers in many communities.
But removing contingencies from a contract is not the way to make your offer more attractive to sellers. Contingencies are there for a reason: