In the end though, a HML still requires you to have a financing contingency clause in the offer just like if you were buying with a conventional lender.

(Had to make special arrangements for them to accept a cashiers check with escrow acct info on check and got deposit slip from bank officer after verifying account with escrow company, I almost backed out of deal and it would have affected two other contingencies).I have other questions in regarding the escrow process which I found unprofessional .

The tricky part is that the new property will still be contingent on the ability to pay.

The 35 year fixed rate term eliminates refinance and interest rate risk, the non-recourse feature eliminates personal and contingent liability and the cost, if amortized over the term of the loan, is typically less costly than having to refinance your loan every five or ten years.

The main things we look in regards to the individual is 1) Liquidity 2)Net worth and 3) Contingent Liabilities (Are you a guarantor on any other recourse loans that may threaten your liquidity and NW?).

Go into contract with earnest money but a floating closing date contingent on his finding a suitable replacement property.3.

To get a mortgage for a condo, it is contingent on certain items from the HOA (namely finding out the reserves on hand).  

But for now, I'll put a offer and close contingent on inspection and appraisal.

But the lower offer is cash, no contingencies, closing in 1 week, etc.  

I assume I'd need to put in contingencies for the work to get done and to extend the inspection period.