Due diligence Earnest money deposit Pre-approval 
Housing Wire
FEBRUARY 19, 2025
Secure a mortgage pre-approval As a rule of thumb, its best to have your clients obtain a mortgage pre-approval prior to setting up any searches and conducting property tours. Required documentation Save your clients some time by providing them with a list of the documents theyll need to get pre-approved.
Redfin
JUNE 23, 2025
You put an offer on a home and it’s been accepted, now the due diligence period begins. In real estate, the due diligence period is the time between an accepted offer and closing. Table of contents What is due diligence in real estate? What happens in the due diligence period?
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Redfin
JULY 30, 2025
Knowing your true budget means going beyond just what a lender will approve you for. Get pre-approved for a mortgage and have cash ready One of the biggest signals to sellers that you’re serious is a mortgage pre-approval letter. Why pre-approval matters: It gives sellers confidence in your ability to close.
HomeLight
JUNE 23, 2022
It is simply a period of time that the buyer sets to secure financing approval from a lender for the purchase of the home. If the financing fails, the buyer can pull out of the contract with a full refund for earnest money as long as it’s before the specified deadline. Issues that arise during due diligence.
Point2Homes
JANUARY 31, 2023
With a budget in place, your next step should be to get pre-approved for a mortgage. Without being pre-approved, you’ll need to delay your offer while you secure financing. If possible, offer a larger earnest money deposit rather than the 1% to 2% that is more common.
Realty Biz
NOVEMBER 11, 2020
They will also get their earnest money deposit back , and the home will go back on the market. Even if the buyer has pre-approval for a mortgage, things can still go wrong when they apply for the loan. Perhaps, they have taken out a fresh loan, or their situation has changed in some other way since pre-approval.
HomeLight
MARCH 16, 2023
More certainty: With a pre-offer walk-through, a cash home buyer can typically provide a firm cash offer that comes with few contingencies, or no contingencies at all. So you won’t be holding your breath until the buyer’s loan approval comes through or be on the hook for needed repairs discovered during the home inspection.
Expert insights. Personalized for you.
Let's personalize your content