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Avoid Homebuying Hurdles and Gain the Upper Hand in the Bend, Oregon

Oregon's Bend area is undergoing significant changes in its real estate market. Both buyers and sellers are confronted with specific challenges and opportunities due to increased demand for properties. One major hurdle for buyers in this competitive market is the need for homebuying contingencies.


This guide provides a clear and concise overview of the current real estate situation in the Bend area, highlighting important trends, data, and strategies for navigating this competitive market. It will also examine the details of homebuying contingencies and provide practical advice on avoiding them to ensure your offer stands out from the rest. This guide is essential if you plan to buy, sell, or invest in the Bend area.

Exploring Bend's Current Real Estate Landscape

Looking closely at Bend's real estate scene in July 2023, we observe a dynamic market shaped by strong demand, strategic price adjustments, and shifts in the time properties spend on the market. These factors highlight the significance of setting accurate prices and making informed decisions in this local market.

Bend Home Sales - July 2023 During July 2023, the real estate market in Bend witnessed a healthy demand. A total of 75 homes changed hands, with a median sale price of $725,219. Interestingly, 28.8% of these sales closed above the initially listed prices, indicating a competitive landscape. However, a price adjustment was observed in 30.7% of cases, underlining the importance of setting reasonable initial prices and adapting to market realities.

Analyzing the "days on market" (DOM) metric, we find that properties took an average of 20 days to secure buyers. This indicates a modest increase from the previous year's 10-day average. Despite this change, Bend's real estate market remains highly competitive, with properties moving relatively swiftly.

Bend's real estate landscape showcases a dual trend: homes often sell above their listing prices, yet there's also a noticeable pattern of selective price adjustments. This situation highlights the complex dynamics of the housing market here. Homes priced below the median tend to attract quick sales and, in some cases, bidding wars. On the other hand, higher-priced homes tend to linger longer on the market and may require price tweaks to align with buyer expectations. Consequently, heightened competition for affordable homes leads to rapid sales. As a result, buyers, sellers, and real estate professionals need to carefully assess the market landscape and make informed choices in navigating Bend's unique real estate terrain.

Understanding Homebuying Contingencies

Homebuying contingencies are conditions or actions that must be met or completed before a real estate transaction can proceed to close. These contingencies are typically outlined in the purchase agreement and are designed to protect both the buyer and the seller from unforeseen circumstances or changes in the situation. It is key for buyers to understand these contingencies, especially in the current market, as they provide a safety net for buyers, allowing them to back out of the deal without penalty under certain conditions.

Being well-versed in these contingencies can help buyers make informed decisions and navigate the homebuying process more smoothly. Additionally, knowing which contingencies could potentially make your offer less attractive to sellers is important to crafting a compelling offer in a competitive market. Understanding these contingencies is key to successfully navigating the Bend real estate market.

Common Types of Contingencies in Homebuying Contracts

Here are some common types of contingencies that buyers may include in their contracts:

Financing Contingency: This is one of the most common contingencies. It stipulates that the offer is contingent on the buyer being able to secure financing for the home purchase. If the buyer cannot secure a mortgage, they can back out of the deal without losing their earnest money deposit.

Home Inspection Contingency: This contingency allows the buyer to have the home inspected by a professional before the sale is finalized. If the inspection reveals significant issues the buyer is unwilling to deal with, they can back out of the deal without losing their earnest money deposit.

Appraisal Contingency: This contingency protects the buyer by stipulating that the home must appraise for at least the purchase price. If the home appraises for less than the purchase price, the buyer can back out of the deal or negotiate a lower price with the seller.

Title Contingency: This contingency allows the buyer to review the title report to ensure there are no liens, encumbrances, or other issues that could prevent them from taking clear title to the property. If any issues are discovered, the buyer can back out of the deal or request that the seller resolve the issues before closing.

Home Sale Contingency: This contingency is used when the buyer needs to sell their current home before they can afford to purchase a new one. It stipulates that the buyer's offer is contingent on selling their current home. If the buyer's home does not sell in a specified time frame, they can back out of the deal without losing their earnest money deposit.

Insurance Contingency: This contingency stipulates that the offer is contingent on the buyer securing homeowners insurance for the property. If the buyer cannot secure insurance, they can withdraw from the deal without losing their earnest money deposit.

It is important for buyers to consider which contingencies to include in their offer carefully. While contingencies can provide important protections for the buyer, they can also make an offer less attractive to the seller. In a competitive market, it may be necessary for the buyer to waive certain contingencies to make their offer more competitive. However, this should be done with caution and a clear understanding of the potential risks involved. Being aware of these common contingencies and considering carefully which ones to include in your offer can make it more attractive to sellers.

The Rising Trend of All-Cash Offers: An Opportunity to Waive Contingencies

The real estate market has seen a significant increase in all-cash purchases, which provides an opportunity to waive contingencies, making offers more appealing to sellers even against higher offers. Here's how:

Faster Closing Process: Securing a mortgage involves a lot of paperwork and can be lengthy. An all-cash offer bypasses this process, significantly speeding up the closing process, which is often very appealing to sellers looking to close the deal quickly.

No Risk of Financing Falling Through: Even with a mortgage pre-approval, there is always a risk that the financing could fall through at the last minute. An all-cash offer eliminates this risk, providing a lot of security for the seller.

No Appraisal Contingency: Most mortgage lenders require an appraisal to ensure the home is worth the loan amount. If the appraisal comes in lower than the purchase price, the lender may not provide the financing, or the buyer may ask the seller to lower the price. An all-cash offer eliminates the need for an appraisal, removing this potential hurdle.

More Flexibility on Closing Date: An all-cash offer does not require waiting for mortgage approval, allowing more flexibility on the closing date. This can be very appealing to sellers who may need to coordinate the sale of their home with the purchase of a new one.

Stronger Negotiating Position: Sellers are often more willing to negotiate on price with all-cash buyers because the deal is more likely to go through without any hitches. This may lead the seller to accept a lower offer from an all-cash buyer.

More Attractive Offer: In a competitive market, an all-cash offer can make your offer stand out among multiple offers. Sellers may be more inclined to accept your offer over others, even if it is not the highest offer.

While making an all-cash offer may not be possible for everyone, it is worth considering if you have the means to do so. It can provide many advantages and give you a significant edge in a competitive market. In the competitive Bend real estate market, making an all-cash offer can give you a significant advantage.

The Growing Trend in Real Estate: More Cash-only Purchases

Since October 2022, the REALTORS® Confidence Index has pointed out a marked rise in all-cash transactions. Over one-fourth of homebuyers, encompassing primary homebuyers, investors, and those buying vacation homes, have opted to buy without taking out a mortgage, thus sidestepping the surge in mortgage interest rates, which topped out at 7% in Fall 2022 before stabilizing at 6.28%. This development mirrors what happened in 2014 when the mortgage rates hovered around 4%. However, the pandemic led to multiple offer situations and a shift towards more affordable, less densely populated areas, allowing buyers with significant housing equity from past properties to place all-cash offers.

A closer look at the data shows that a considerable portion of all-cash buyers falls within the Older Baby Boomers and Silent Generation demographics. Surprisingly, over half of these buyers have opted for cash transactions for their recent home purchases. This represents a significant shift from previous years, mainly due to their substantial home equity. Interestingly, this trend isn't confined to a specific age group – even Gen X buyers are showing a noticeable increase in cash transactions. However, the same can't be said for both Younger and Older Millennials, where cash-only deals remain relatively rare.

Buying a home outright without needing a mortgage heavily relies on having accumulated housing equity. This challenges first-time buyers who often compete against all-cash purchasers, especially in areas where multiple competing offers are the norm.

Unlock the Power of All-Cash Offers with NAF Cash

“Whether you're a first-time homebuyer or an experienced buyer, with NAF Cash, you can confidently navigate the Bend real estate market and secure your dream home.”

The NAF Cash Process

Standing out as a cash buyer in the competitive Bend real estate market can make all the difference. That's where NAF Cash comes into play!

With NAF Cash, you don't need to have the entire cash sum of your dream house to make an all-cash offer. Instead, NAF Cash provides you with the financial backing to present an all-cash offer, making your bid more attractive to sellers and expediting the closing process.

NAF Cash purchases a home upfront, with cash, on behalf of the buyer. Meanwhile, the buyer secures permanent financing and NAF Cash then sells the property back to the buyer for its original price plus a small service fee. Not only does an all-cash offer give the homebuyer a competitive edge, but sellers also prefer its convenience and certainty. Two aspects that benefit the buyer and the borrower are that there are no financing contingencies, and you can close on a home more quickly, which will get you settled into your dream home faster.

As an all-cash buyer, NAF Cash eliminates the need for financing and home sale contingencies. That means the sales are less likely to fall through due to financing, and the buyer can move in immediately and then sell their own home before buying the new home back from NAF Cash. This makes the homebuyer's offer more of a certainty for the seller. Moreover, because the homebuyer is already approved by NAF Cash, the buyer can close the deal faster, eliminating timeline delays, making it a more desirable scenario for the seller, and getting you in your dream home faster.

Here's how NAF Cash could benefit you:

  • Enhanced Buying Power: Make all-cash offers stand out in a competitive market by waiving the financing and home sale contingencies.
  • Faster Closing: Eliminate the need for mortgage approval, speeding up the closing process and waiving the financing contingency.
  • Flexibility: Move in immediately, sell your previous home if you have one, and secure your new financing. NAF Cash gives you the freedom to transition seamlessly into your new home by waiving the home sale contingency.

Whether you're a first-time homebuyer or an experienced buyer, with NAF Cash, you can confidently navigate the Bend real estate market and secure your dream home.


1. What are homebuying contingencies?

Homebuying contingencies are conditions that must be met before purchasing a home can proceed. They are included in the purchase agreement and allow the buyer or seller to back out of the contract without facing legal consequences if certain conditions are unmet. Common contingencies include home inspection, financing, and appraisal.

2. Why are all-cash offers more attractive to sellers?

All-cash offers are more attractive to sellers because they remove many of the uncertainties associated with mortgage financing. Sellers prefer all-cash offers because they usually mean a quicker closing process, no risk of the deal falling through due to financing issues, and often, a higher chance of the offer being accepted.

3. How can an all-cash offer give me an advantage as a buyer?

An all-cash offer can give you an advantage as a buyer because it makes your offer more attractive to the seller. Sellers prefer all-cash offers because they are less likely to fall through and usually mean a quicker closing process. This can be especially advantageous in a competitive market with multiple offers on a property. Armed with this knowledge, you can confidently navigate the Bend real estate market.

Navigating Your Way to Success in Bend's Real Estate Landscape

Homebuying in Bend's real estate market requires a strategic approach. This guide uncovers the current dynamics marked by strong property demand, notable shifts in supply and demand, ongoing price fluctuations, and a prominent trend toward all-cash transactions to avoid contingencies and be the most attractive offer. While challenges exist, both buyers and sellers have opportunities to seize.

Innovative solutions like NAF Cash are reshaping how buyers operate. NAF Cash offers the financial edge for all-cash offers, enhancing your buying power, streamlining the closing process, and providing the flexibility needed for a smooth transition into your new Bend residence. Whether you're a first-time homebuyer or a seasoned investor, embracing the potency of all-cash offers along with NAF Cash's support can redefine your journey in Bend's competitive real estate market.

Ready to secure your dream Bend home? Don't let financial barriers deter you. Embark on the path to homeownership with NAF Cash today and turn your aspiration of owning a Bend property into reality.

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