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What Happens if the Inspection Contingency Expires on a Home Offer?

HomeLight

This period, typically lasting 7-10 days from the acceptance of the purchase offer, is known as the due diligence period. Once the seller accepts your offer, the clock starts ticking on this due diligence period. Risk of forfeiting earnest money A major chip on the due diligence poker table is your earnest money deposit.

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What Is a Mortgage Contingency? Purchase Offer Protection

HomeLight

If your loan application is denied, or you can’t secure financing under the terms outlined in the contingency, you can withdraw from the deal and typically recover any earnest money deposit you’ve made. This is all part of the due diligence period.

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How Can a Buyer Get Their Earnest Money Back?

Realty Biz

You must put up an earnest money deposit when you buy a home. The purpose of earnest money is to show you're serious about buying. Many people refer to earnest money as a good-faith deposit. Earnest money deposits can be used as leverage in negotiations.

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3 Big Reasons Your Home Offer Was Rejected—and How To Play It Right Next Time

Realtor.com

Your earnest money deposit was too ‘cheap’ If there’s one part of the offer you shouldn’t cheap out on, it’s the earnest money deposit. “But that’s not to say that a buyer should waive the due diligence period,” she adds. Make it shorter, but don’t waive it.

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What to Look Out for when Working with Cash Buyers

CT Homes

When a buyer submits a “Non-Contingent” offer, they are essentially forfeiting any and all of their privileges to perform due diligence on a property they’re interested in. The more complex a project, the more time a buyer may need to perform due diligence. Low Earnest Money Deposit.

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When Can a Buyer Cancel a Home Purchase Agreement?

HomeLight

Sale price and terms: The agreed-upon price for the property and the terms of the payment, including the earnest money deposit amount and financing details. It includes key elements such as: Property details: The address and legal description of the property.

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Fighting Against Real Estate Fraud

The Residential Specialist

Do some digging: “You have to be very careful and do your due diligence when you’re contacted,” says Dallison Veach, CRS, owner of Veach Realty Group in Springfield, Virginia. She also personally experienced an attempt to pull a bait-and-switch with deposits.