Backup offer Closing costs Earnest money deposit Finance 
HomeLight
JUNE 29, 2022
As interest rates start increasing, as they are right now in 2022 , sellers may not have as many backup offers to consider as they would when rates were low. Price your house right to attract competitive offers. Require a sizable earnest money deposit. Make repairs that affect the buyer’s loan requirements.
HomeLight
MARCH 20, 2023
Financing Contingency: If the buyer’s mortgage proceedings fall through, they can walk away from the home. A kick-out clause acts as a sort of compromise in light of an offer with a home sale contingency. They may be able to accept backup offers as well, depending on how the clause is written. Offer over asking price.
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