Remove Commercial Remove Loan contingency Remove Short sale
article thumbnail

What Buyers Need to Know About Making an Offer on Active Contingent Listings

HomeLight

You’ll likely need this type of contingency even if you’ve been preapproved for a mortgage as that process does not guarantee that you’ll get a loan. Financing contingencies may also be called loan contingencies. Bank approvals most often arise in a short sale or other distressed property scenario.