When you receive a cash offer, one of the key advantages is the lack of financing contingency. But what exactly does that mean, and what other contingencies might still apply?
The Financing Contingency: Gone
In a traditional sale, the buyer’s offer includes a financing contingency — if they can’t get their mortgage approved, they can cancel the deal with no penalty. This is the #1 cause of failed traditional sales. Cash buyers have no financing contingency because there’s no mortgage to approve.
The Appraisal Contingency: Also Gone
Traditional lenders require an appraisal. If the home appraises below the sale price, the buyer must either pay the difference, renegotiate, or cancel. Cash buyers don’t need an appraisal — we evaluate the property ourselves and our offer stands on our own assessment.
What About an Inspection Contingency?
Some cash buyers still include inspection contingencies — the right to inspect and renegotiate. At Sell My House Pro, we price the property based on its known condition upfront. We may walk through for a quick visual review, but we don’t use an inspection as leverage to renegotiate after you’ve accepted our offer. What we offer is what we pay.
The Result: Certainty
When we say we’ll close on a certain date, we mean it. There’s no bank that can kill the deal. No appraisal that can blow up the transaction. Just a straightforward close on the date we agreed.
That certainty has real value. (877) 800-3187