Brian Gibson

There's no doubt that banks like offers with no contingencies, who wouldn't? Your requests are valid and reasonable and do not affect the deal unless the seller screws up. Problem is, you're potentially up against other offers than don't have any contingencies at all. You're agent probably doesn't think it's worth the time to submit your offer. However, his generalization about banks not accepting offers with contingencies is overstated. Banks take what they consider to be the best offer, period. But they will consider all offers if they're doing their jobs correctly. My advise? Once you've been pre-approved, done your d/d and are certain you want to purchase a particualr property, include the contingencies but offer a token amount, say $5000, non-refundable upon signing. That should at least get their atttention enough to look twice at your offer. It means that if you don't perform, you lose your money, so make sure you have your ducks lined up. It also tells the lender you are serious about closing and that may put you at the top of the stack (assuming all other terms were in line with the other offers). It's worked for me. Good luck. - Wed Jun 11 2008, 11:32