 TITLE: How to Win a Bidding War on a House CONTENT: Limit the Contingencies\n-----------------------\nDuring traditional home sales, buyers can make offers that are contingent upon certain requirements being met first—like selling their current home before closing on the new one, for example. Other contingencies allow a buyer to back out of a real estate transaction if they're unable to secure financing, or an appraisal reveals that the home's fair market value is lower than their offer. Contingencies can take many forms, but they're often related to inspections, appraisals, financing and insurance.\nDoing away with contingencies could tip the scales in your favor during a bidding war. From the seller's point of view, it can make the deal more appealing, as a smoother and less complicated transaction generally leads to an easier and quicker closing.\nJust keep in mind that contingencies are designed to protect buyers, so eliminating them does come with some risk. An inspection contingency, for instance, gives the buyer an out if they aren't satisfied with home inspection results. Waiving this contingency could come back to bite you if the home ends up requiring costly repairs or renovations. A real estate attorney can best advise you in navigating contingencies for a specific offer. END