No finacing contingencies allowed?

[Jonathan Warner]

Hello. I'm perusing through some online listings for multifamily in my area. I noticed a triplex that seemed to have an interesting bit of information in the description.

"Only cash or cash equivalent contract considered. No contingencies for financing. Owner is a licensed real estate broker in the state of Alabama. Owner is acting as listing agent."

Why would an owner/listing agent make this stipulation? It just seems odd to me. Thanks in advance. 

[Chris Seveney]

Quote from @Jonathan Warner:

Hello. I'm perusing through some online listings for multifamily in my area. I noticed a triplex that seemed to have an interesting bit of information in the description.

"Only cash or cash equivalent contract considered. No contingencies for financing. Owner is a licensed real estate broker in the state of Alabama. Owner is acting as listing agent."

Why would an owner/listing agent make this stipulation? It just seems odd to me. Thanks in advance. 

 serious buyers but also the property may not qualify for traditional financing. They want someone who has the money or can make sure they can get it.