Would this be considered a financing contingency?

So, you should have at least 10% contingency factor built into your numbers plus add at least 25% time to the timeline.

Scott's book The Book on Estimating Rehab Costs, it's quite good: https://store.biggerpockets.com/products/the-book-on-estimat...3) Always build in a contingency to your rehab estimate, I usually go with 20% over what I expect it to cost4) Make sure to account for holding costs too of courseI hope that helps

yes seller can withhold signing. happens more often than you might imagine. normally there is a time limit on financing contingency..

Mitch is spot on in terms of getting a realistic repair estimate (and don't forget to add a contingency because no matter how much experience you have there will always be something that comes up unexpected and adds time and cost) is key. 

Negotiated 20k off the top without contingencies as already walked it and report didn’t show anything I didn’t already saw.

As a contingency of sale we required this unit to be vacated.

I said write us $1.3m non-contingent and it's yours. 

If the agent/listing disclosed it needs work, selling as-is but that you likely wouldn’t win bid with an inspection contingency, then you decided not to have it inspected, that’s a different, hard lesson.

The Cancelation:In Minnesota, a buyer can send a cancelation during the inspection contingency period,  and expect to get all their earnest money back; and that's exactly what we did.