The offer includes an inspection contingency.

@Richard Schubert As was previously stated, given your description of the area and the property, it looks like a property that was significantly underpriced to generate a bidding war (and get contingencies removed in the process). 

@Frank Patalano Fear of not knowing what is going to happen, you can plan for everything, have every contingency in place, and still fail.

Write an insurance contingency into the offer. 

If your focus is on speed, (e.g. because the seller dosn´t want to wait or give a financing contingency) you might consider a hard/private money loan, since they usually can close way faster than a conventional bank loan.

You are likely out of your inspection period and the ways out for you are appraisal and financing contingencies.

Check with your buyer's agent, they likely included a "contingent on financing" contingency in your offer and you would get your emd returned. 3.

Terms should include interest rates, repayment schedules, and contingencies for unexpected issues.

My last listing just got 6 offers and went $75k over-ask (cash, no contingencies). 

My question is, do you submit offers on potential deals and make them contingent on financing and then go find the money after the offer is accepted...hoping you can do that quickly enough?