04 Aug [silicon valley, California] In the current market, what contingencies are typically waived?
I'm a first time home buyer and been reading to learn & prepare. Seems like even though the market isn't as hot as before, it's still pretty competitive.
Which of these contingencies are typically waived?
Financing: do people usually get conditional approval from multiple lenders and waive this contingency?
Appraisal: do people set aside extra cash and waive this?
Inspection: this one is the one I heard to never waive. But if the seller present their own inspection report, do people typically waive this?
I heard that the earnest money deposit is usually 3%, which would be substantial for a $1M+ house. Wouldn't it be risky to pretty much waive all of these?