Generally determined based on Location, Condition of property, External Intangible factors along with Comparable Market Analysis
Mostly lenders look for minimum 20% so Loan can be approved with good interest rate. This subject requires expertise analysis and I would recommend to call me in case you require guidance on subject property.
Contingencies are generally protections for buyers. 3 Main contingencies, Loan, Appraisal and Property
Inspection/disclosures review contingencies
Most of properties bought by Loan from Institution Lenders which needs to be obtained. Lenders generally perform Preapproval based on Borrower's Salary or Salaries , Credit history, down payment money,Length of employment along with Saving details, present liabilities and calculate their worth to Lend Money. Generally Lenders look for 40% of their Gross Income. Please work with your Broker N Lender for further discussions.
Market in US is never stable market being virtue of Capitalistic nature. Goods are served based on demand and supply. Lenders generally invest on borrowers and keep property as Collateral. Hence lenders need to make sure property worth so they can lend money based on value. Appraisers generally look for Sales since last 6 months and conclude property value. During upward and down ward market it's interesting to consider external factors effecting market conditions and determine situations. For Example: Interest rates, Rental values, Demand and supply characteristics , Job situation and Overall economy in Local Market. You need expert to perform this analysis and guide you with situations.
Evaluate conditions on property depends on inspection reports and analyze condition of property along with other factors which are mentioned in TDS ( Transfer Disclosures Statements ) , Once you determine condition you can take decision based on situations.
When Complete process ended since Purchase contract signed. You can check with Lenders and determine this.
Along with offer, you need to keep Deposit along with offer. Generally it would be 3% of Offer price.You can send scanned Copy of check with offer.