I also asked for 90 days of due diligence and it's all contingent on me receiving financing.

If that is your first investing purchase have a contingency line item that will help to do the unexpected expense or it might be a gift. 

Always have a short contingency in your offers.

Person A makes an full price offer, contingent upon financing, & Bob agrees.

I am looking at a property on auction.com and the listing says: Conventional Financing Not Available.Does anyone know if this contingency is based on the time that is required to close or whether it is just a protective clause in case there is a cloud on title and financing would not come through.I have a hard money loan lined up for it and would plan to back into a mortgage as the property barely needs any work. 

If you are going to pursue a judgment, you may be able to find a local lawyer that will attempt to collect on a contingency basis. 

I'm not a lawyer but I have to imagine you can get the tenants to sign a new lease now with your name and everything on it that is contingent upon this sale going through.

But if he wants he can speak to this..I just look at some of the most successful folks I know and they have a lot of real estate paid for.. bottom line. my self personally I have paid off or sold all my long term contingent liabilities including my residences although I still have a little to go on my Oregon home but I have no more than 20% LTV on it.. 

I have a house that has been contingent twice, pending once and has 4 interested parties currently. 

The more contingencies you have the weaker the offer.