I’ve had several investor clients go with a new (to me)/ unproven lender because of a slightly lower rate promise only to get burned by that lender (closing costs were higher, appraisal costs much higher and appraisal was a nightmare, main point of contact gave us the clear to close as we passed our financing contingency then just before closing someone from the underwriting department we previously didn’t know existed said we need a few more days and seller didn’t agree because they had a higher backup offer, jeopardizing the earnest money and losing the property, etc).

I found my self with a million dollar startup with no money and realized my success was contingent on companies hiring me or people investing in me.

Contingency lawyers are not interested because of Arbitration clauses in the contract.

Further, only a minority of sellers will be interested or motivated to offer a significant discount for a 7 day no contingency sale.

It doesn't matter if there is no home inspection contingency, but if there is, Buyer and Seller negotiate the items.

This appears to be a misuse of said contingency.

Keep in mind they might have sold it a month ago and are working through contingencies, so they haven't made it pending yet.

We back into the "strike price", meaning the maximum price we're willing to pay for a property, by starting with a conservative ARV and then backing off our required profit, the rehab cost, the time value of money (carrying costs and interest), and a contingency reserve for unexpected expenses.

Your best path is to work through your contingencies, provide loan commitment asap and then ask the seller.

And yeah, 15-20% was what I was normally seeing as far as an overrun which is where the contingency came from.