Q&A: Would you buy a home without a home sale contingency?

Question by Brooke22365: Would you buy a home without a home sale contingency?
The seller isn’t accepting offers with a home sale contingency clause. We’ve been approved by our lender to proceed without the contingency, but the payment is really ugly. Would you proceed without the contingency or let the house go? I just don’t know what to expect in this market.

Best answer:

Answer by barnarhs
Let this house go! I have experience with having and not having one. I bought a house when my current home was under contract, and did not have the clause on the new house. The people that were buying my house (I later found out) had really bad credit and it ended up closing 3 months later–that is 3 months with 2 mortgage payments that I could have avoided with the clause. While this was going on I put a contract on an investment property that was subject to the previously mentioned home closing. It was a great deal that I couldnt pass up. They excepted the contract with the contingency, and though the sellers of the investment property were very upset that I closed on it 2 months late, it saved me. Bottom line–not having the clause could cost you thousands!

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