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Risk of selling to a conventional renovation loan (not 203k)?

Hi all, working and navigating a sale of my property so sorry if there’s already a post out there discussing this.

My property (unable to get a certificate of occupancy without renovations) received a few offers, one all cash but 40k below asking, and another at asking with a seller concession but with a conventional renovation loan.

Obviously I’m biased toward the higher offer, but there’s the risk of it falling through. It’s good that it isn’t FHA (less red tape, I’ve tried one before when buying and it’s a pain for all involved). Is a conventional renovation loan better/less of a roll of the dice?

Note I have a mortgage on this place and higher offer will repay with some left over, which puts added pressure on making that work.

Thank you!

submitted by /u/fuckimbackonreddit9
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source https://www.reddit.com/r/RealEstate/comments/1tdx943/risk_of_selling_to_a_conventional_renovation_loan/
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