She loved the house. Brooklyn Park. Big backyard. Three bedrooms on one level.
Her cousin told her to waive everything. “That’s how you win.”
So she almost did. Then we pulled the comps, checked the days on market, and found the truth. That house had been sitting for five weeks. Nobody else was bidding.
She kept her inspection. The inspector found a failing sump pump and a radon level well above the action line. The seller paid to fix both.
That’s the 2026 Twin Cities real estate market. If you’re wondering whether to waive contingencies in Minnesota, know this: the advice from 2021 can cost you real money today.
Is It Still Smart to Waive Contingencies in Minnesota?
Usually, no. Not across the board.
In 2021, Minneapolis homes pulled 50 offers in a weekend. Buyers waived protections just to get a call back.
2026 is a different market. Minnesota homes for sale hit a seven year inventory high this summer, and metro homes averaged about 45 days on market in August. Buyers have room to breathe again.
Hot homes still move fast, especially well priced listings in Brooklyn Park, Champlin, and the popular pockets of Minneapolis. So the right answer is never “waive it all.” The right answer is “waive what this house allows.”
What Does a Contingency Actually Do?
A contingency is your exit door.
It’s a condition in your Minnesota purchase agreement that has to be met before the deal is final. If it isn’t met within the deadline, you can walk away and keep your earnest money.
Waive it, and that door is gone. You’re buying the house no matter what the inspector, the appraiser, or the lender finds.
There are four contingencies you’ll see in nearly every Twin Cities home purchase:
Inspection. Protects you from hidden defects. My take: keep it.
Financing. Protects you if your loan falls through. My take: keep it, unless you’re paying cash.
Appraisal. Protects you from overpaying. My take: this is where you can bend.
Home sale. Lets you sell your current home first. My take: sellers rarely accept it, so plan around it.
The Inspection Contingency: Keep It
This is the one I fight for.
Minnesota sellers must disclose known material defects. “Known” is the catch. A seller may honestly have no idea the sewer line is cracked or the foundation is moving.
Without an inspection contingency, your only option after closing is proving the seller knew and hid it. That’s slow, expensive, and hard to win.
Minnesota homes come with their own checklist:
- Radon. Common across Hennepin County and the state. You can’t see it or smell it. You have to test.
- Freeze and thaw damage. Our winters are hard on foundations, driveways, and roofs.
- Older mechanicals. Furnaces, water heaters, and electrical in homes built before the 1980s.
- Sump pumps and sewer lines. Especially in older Minneapolis housing stock.
Want to compete without giving it up? Ask me about an informational inspection. You still inspect, but you agree to walk away only for major safety or structural issues, not every small repair. Sellers like it. You stay protected.
The Financing Contingency: Keep It Unless You’re Paying Cash
A preapproval letter is strong. It is not a guarantee.
Underwriting can still turn up a credit issue, a job change, or a debt that changes your loan. If your financing falls apart without this contingency, your earnest money can go with it.
Cash buyers skip this one. That’s part of why cash offers look so good to sellers. For everyone else, keep it.
The Appraisal Contingency: The Smart Place to Bend
This protects you if the home appraises below your offer. You can renegotiate, bring cash to cover the gap, or walk.
You don’t have to choose between keeping it fully and waiving it fully. Many Twin Cities buyers now offer an appraisal gap: “I’ll cover the first $10,000 if the appraisal comes in low.”
The seller sees confidence. You see a limit on your risk.
The Home Sale Contingency: Plan Around It
This makes your purchase depend on selling your current home first. Most sellers in a competitive situation won’t take it.
Better paths in 2026:
- List your current home first, then write your offer once it’s under contract.
- Negotiate a rent back with the buyer of your current home so you have time to move.
- Talk to your lender about a bridge loan.
Buying and selling at the same time is a timing game. It’s very winnable with a plan.
How to Win Without Waiving Everything
There are other ways to make your offer stronger:
- Shorten your deadlines. Keep the protection, shrink the window.
- Inspect before you offer. A walkthrough with an inspector up front can let you write a cleaner offer.
- Give the seller the date they need. A flexible closing date or rent back can beat a higher price.
- Strengthen your earnest money. A bigger deposit tells the seller you’re serious.
- Get fully underwritten early. It’s stronger than a basic preapproval.
- First time buyer? Ask about Minnesota Housing down payment assistance programs. Some of them make your offer stronger by freeing up cash for an appraisal gap.
Your Next Move
Every house is different. Every offer should be too.
The right strategy depends on the property, the competition, and how much cushion you have if something goes sideways. That’s the call I’ve made through 550+ closings across Brooklyn Park, Champlin, Maple Grove, Blaine, and Minneapolis.
Thinking about buying a home in the Twin Cities? Call or text me, or send me a message through my website. We’ll build an offer that wins and still protects you.
I want to see you Win!!
Lisa Carter, REALTOR® | RE/MAX Results