mortgage contingency

Usually yes, unless you know you can go all-cash or you dont care about losing your deposit. There are always other factors that are out of your control that can go wrong. I still have borrowers that sign a contract without a mortgage contingency and I have yet to encounter a problem. But better safe than sorry. sunny.hong@bankofamerica.com

Unless you're 100% certain that you can pay for the apartment with all-cash, I would keep the mortgage contingency. In my own case, I would only forgo the mortgage contingency if I had a substantial amount of cash in reserve in excess of the amount that I offered for an apartment.

This topic has been discussed at length before in threads you may find useful. One recent thread I just pulled up was: http://streeteasy.com/nyc/talk/discussion/18854-mortgage-contingencies

Thanks for the link. I am a relative newbie.

dms the short answer is listen to sonny. he knows what he's saying.