OMG NO!!!!! Never, ever, never, remove your mortgage loan contingency completely from the contract!
Now that hopefully I have your attention, here's why:
Even if you have obtained your Mortage Commitment in advance (a very smart thing to do) and there are very limited conditions to be cleared before closing there are other considerations. What if.... you lose your job, the lender goes out of business, etc. etc.? Any good attorney will tell you the same thing. The last thing you want is to get involved in litigation to get your downpayment returned if your financing falls through. So, if you insist on making your offer more enticing to the seller, which I assume is why you would want to do this in the first place, there is conservative way to accomplish this. I saw an attorney protect a buyer's best interests by waiving the contingecy period at the time of signing contract but attaching a copy of the Mortgage Commitment that the contract then became subject to. That way, if the buyer's worst nightmare came true such as job loss or the lender going under, they were fully protected.
Good luck with your transaction and keep asking good questions!
Deborah Endres Camacho
...For all your real estate needs
NMLS Mortgage Originator 20+ years of experience
MORTGAGE ACCESS CORP.
National Direct Lender with HQ in Morris Plains, NJ
Referrals always accepted and greatly appreciated.