Earnest money deposit Land 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.
Rochester Real Estate
NOVEMBER 5, 2015
Factors such as earnest money deposits, loan approvals, and real estate agent involvement should be considered. Your odds will be greater of landing a house when your involved in a bidding war on multiple properties vs. one. It is vital to understand the legal and ethical implications of this approach.
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Redfin
JUNE 23, 2025
In some states, buyers may also pay due diligence money—a non-refundable fee paid directly to the seller in exchange for this inspection window. While not required everywhere, it’s an important part of the process in certain markets and is separate from the earnest money deposit.
Redfin
JULY 14, 2025
In that case, putting in more than one offer can feel like playing the odds and you increase your chances of landing something. Walking away from one could cost you your earnest money deposit (typically 1%–3% of the home price), and in some cases, you could even be sued for breach of contract.
Realtor.com
OCTOBER 29, 2020
If the appraised value is less than the sale price, the contingency enables you to back out of the deal without forfeiting your earnest money deposit , says Bishoi Nageh , president of the Petra Cephas Team at Mortgage Network Solutions, in Somerset, NJ. Get final mortgage approval. Clear the title.
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.
CT Homes
SEPTEMBER 29, 2020
Landing your dream home is now about timing, contract structure and submitting the strongest offer possible as soon as you can. If you are using lender financing, the more money down the more likely your loan will be accepted. In addition to down payment on your loan you should consider increasing your Earnest Money Deposit (EMD).
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