How do you structure your offer when using a HML?

[Ben C.]

Hello,

I was just wondering how you all fill out your offer contracts when using a HML. Do you keep the inspection, appraisal and financing contingencies? If so, do you check off "Other" and list "private financing" (as obviously this isn't a traditional mortgage)?

Lastly, what verbiage do you put into the contract to inform the seller how much quicker this type of loan is and less stringent they are in terms of closing requirements vs traditional big bank mortgage?

Just trying to see how best I could structure offers to try to compete with cash as best I can?

I see some people waive all contingencies with HML but there is always that chance they won't fund the deal. Then what?

Thanks!