[chimerasaurus]

Just going to point out that there are very real cases where one may want a mortgage larger than they want at least temporarily.

For example, buying a home and selling another. If you want to minimize risk, easier to sell the old one, take a mortgage on the new one, and then clean things up once the dust settles.

At least for cities like Seattle, that’s been basically the only way to sell a home and buy a new one without assuming a ton of risk.

[theGnuMe]

Contingent is how you do it.

[ryathal]

In a hot market that's how you get your offer rejected. It's also how you are stuck in limbo for 6 months because you unknowingly got into a massive, stacked transaction.