My agent asked me to get pre-under written so we can waive financial contingency. We are in Seattle area and already lost multiple house due to bidding war. I have pre-approval but does getting pre-under written help? Also should I try to get pre-underwritten from multiple lenders?

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You could waive mortgage contingency, but make sure you are keeping appraisal contingency. This no contingency game is a scam. Realtors prefer non contingency offers since the 3% earnest goes to the buyer agent.

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I waived appraisal and mortgage approval on my last purchase. If it’s a hot market I wouldn’t accept an offer with an appraisal contingency.

I wouldn’t bother to get pre underwritten by multiple lenders. Do you already have a preapproval? That should mean that you will get qualified. Just move forward with the bank with the best deal.

Got it. Yes, I am already pre approved.

Do not waive the mortgage contingency

Why would you say so? My understanding is getting pre- under written essentially guarantees mortgage. I will not be waiving appraisal contingency

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