Do you have to waive contingencies to buy a home on the Peninsula?

Short answer: not always, but on well-priced, desirable homes in San Mateo County, competitive offers often include waived or shortened contingencies, and it's worth understanding the trade-off before you decide.

Here's the market context. Through 2025, roughly two-thirds of Peninsula properties sold with offer dates and frequently closed somewhere between about 5% and 20% over list, with some homes going well beyond that depending on how the property was priced. Part of what's driving this is buyer liquidity: stock-option exercises and big payouts at AI and tech firms have given many local buyers deeper pockets than a year or two ago. When multiple strong offers land on the same house, sellers can favor the cleanest terms, and that's where contingencies come in.

A contingency is a condition that lets you back out and keep your deposit, most commonly for inspection, appraisal, or loan approval. Waiving one makes your offer more attractive to a seller because it removes an exit and a delay. It also removes your protection. Waive the inspection contingency and later find a foundation or drainage problem, and you may be committed anyway. Waive the loan or appraisal contingency and have financing fall short, and your deposit can be at risk.

That's why the strategy most experienced agents recommend isn't "waive everything." It's to strengthen your offer in ways that reduce the seller's risk without blindly taking on yours:

• Get a fully underwritten pre-approval, not just a basic pre-qual, so your financing is as close to certain as possible.
• Review the seller's pre-listing inspection and disclosure reports up front, so you can shorten or remove an inspection contingency knowingly rather than blindly.
• Offer a shorter, but not zero, contingency window and a quick, clean close.
• Put down a strong, credible deposit.

One encouraging note for 2026: while multiple offers still happen on properly priced homes, the overbids on the Peninsula haven't been running as far above asking as in the frothiest recent years. That can leave a bit more room to compete on terms other than price.

Waiving a contingency is a real risk decision, not a formality. It should be made with eyes open, ideally after reviewing the disclosures with your agent and, where relevant, a contractor or attorney. If you'd like, I can walk you through a specific property's reports before you decide what to waive. Reach me at paarth@brokerbela.com or through the contact page.

Do you have to waive contingencies to buy a home on the Peninsula?

Not always, but competitive offers on well-priced San Mateo County homes often include waived or shortened contingencies. A safer approach is to strengthen your offer with a fully underwritten pre-approval, upfront review of inspection reports, and a quick close, rather than waiving protections blindly.

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Sources

• Living in San Mateo County, Homebuyer strategies
• The Almanac, "Spring homebuying season 2025: What local experts say you can expect on the Peninsula"
• Burlingame Properties, "The Powerful Forces Driving San Mateo County Home Prices to New Highs"

This is general market commentary, not financial, investment, or legal advice; figures are as of publication and can change. Verify specifics, including any school assignments, ratings, or boundaries, independently. Bela Realty & Investments is committed to Equal Housing Opportunity and does not steer clients toward or away from any neighborhood on the basis of a protected characteristic.