When I was house shopping almost a decade ago during the latest seller's market frenzy, there were several cases where our offer (needing financing) was by far the highest dollar amount, but we lost out to someone offering less in cash and no contingencies. We put offers out on dozens of houses, and always got beaten by an all-cash buyer. Our agent urged us to consider no contingency offers in order to give us a fighting chance against all the all-cash buyers.