Sharyn,

That is entirely up to the buyer whether they want the contingency or not. If they don't check the block off, the seller's agent may want a Buyer Financials sheet filled out (which is what I would ask for as well) to prove that the buyer has the funds to cover the purchase price AND the closing costs. And if the buyer can not get a loan, then breaking the deal can get very costly. The buyer losing their deposit plus owing commission to the seller's agent.

Also, being a new agent, your broker should have you under the wing of a mentor or themselves. In any case get with your broker about this. Don't get burned.

Terrence Charest, e-Pro

Sounds like he has agreed to purchase the property and has put his earnest money at risk in the event the mortgage company has any additional approval requirements. If there were any contengencies with the lender that he could not meet to close the transaction, it seems like he has removed any protection for his earnest money in case this event were to ocurr. Probably has the cash to close without a mortgage.