Earnest money deposit Mortgages Rent back 
Redfin
JULY 30, 2025
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. In addition to getting pre-approved, having cash reserves prepared for your earnest money deposit and other closing expenses is also one of the top tips for making an offer on a house.
Redfin
AUGUST 4, 2025
These might include covering some of their closing costs, agreeing to a faster closing timeline, or allowing the seller to rent back the property briefly. You can strengthen your offer by offering a larger earnest money deposit or submitting a personalized offer letter. Do you already have mortgage pre-approval?
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HomeLight
SEPTEMBER 11, 2020
Get preapproved for a mortgage. The importance of getting preapproved for a mortgage can’t be overstated if you want your offer to be taken seriously. Your offer will be stronger if you build in some wiggle room relating to factors that might seriously entice the seller to pick you: Can you offer rent-back?
Realtor.com
OCTOBER 29, 2020
Appraisal contingency: With this contingency, a third party hired by your mortgage lender evaluates the fair market value of the home. Financing contingency: This contingency gives you the right to back out of the deal if your mortgage approval falls through. Get final mortgage approval. Clear the title.
HomeLight
MARCH 2, 2023
It’s important, especially for first-time buyers, to have someone in both the real estate side and in the mortgage side of things who will represent you and help you navigate.” There are affordable housing programs, silent second mortgages that help cover the down payment, as well as others,” he says.
HomeLight
JUNE 30, 2021
If you have a buyer who’s going to get a mortgage, it has to make it across the finish line. You’re protected in case your house doesn’t sell — you won’t be on the hook to pay two mortgages at once. Most people can’t afford a double mortgage. Ask for a rent-back clause. Sales contingency pros and cons for buyers.
HomeLight
MARCH 20, 2023
After all, few people can afford to hold two mortgages. Financing Contingency: If the buyer’s mortgage proceedings fall through, they can walk away from the home. Appraisal Contingency: If the appraisal fails to meet or exceed the purchase price, the buyer can back out of the contract (or, more often, renegotiate the purchase price).
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