In response to the plethora of “omg should I remove such-and-such contingency or contingencies?! What does it all mean!!!!!!?” threads, I thought we could consolidate.
Realtors, real estate lawyers, and experienced homebuyers/sellers, this is your time to shine. Please mention the state(s) you operate in early/prominently in your post so folks will have an idea if what you are saying is relevant to them (f. ex, I imagine some Texans will mention “options,” which generally aren’t relevant to folks outside of Texas in real estate contexts, so it would be useful to mention that you’re a Texan when doing your write-up!), and give a 3rd person’s perspective (ie, not an “is my specific real estate salesperson just chasing a commission check?” perspective, since folks already have that, from their specific real estate salesperson) on what the main contingencies are, what the risks are, what the upsides are, how probably you think the various outcomes are, and that sort of thing. Anecdotes and experiences would be great too, including from folks who aren’t necessarily in the industry professionally.
To the readers, please construe nothing in this thread as any sort of real estate or legal advice whatsoever, of course defer to YOUR trusted professionals that YOU have selected, and assume everyone on reddit is an incompetent fool who knows nothing, and whose advise you should certainly never take.
And then the democratic process of upvotes, and so on, will let things get sorted as they may.