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[quote=Anonymous]Be careful in listing no financing contingencies unless you have like 10% extra in liquid assets.

I have seen cases where 1-3 weeks before closing, mortgage firms announce that they need additional paperwork and will delay closing to process.  Or ones that say that something has changed and that they can no longer do 80/20 or 80/15/5.  I have seen ones where there is a complication and they need to delay closing.  All of these cases, if you decline the financing contingency, you are still responsible for closing even if your lender is responsible for the delay.  The point of declining the financing contingency to gain an advantage is that you are guaranteeing to the seller that you will close on the assigned date.  If the guarantee of financing is not in your ability to control, why would you waive that protection?  Do you really have the money to put down in the event that the mortgage lender decides that they can no longer meet the original closing date?  Closing dates slip often for many reasons, the majority of which are outside of the buyer's control; hence the need for financing contingencies.

If you don't have the money to put up for the sale, I personally think that waiving the financing contingency is a big crap shoot and not one I'm willing to bank on.  But you can gamble with your finances if you want.  As long as you are willing to lose your EMD.[/quote]

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