Finance Pre-qualification Rent back 
Redfin
JULY 17, 2025
. >>Read: 5 Ways to Win a Real Estate Bidding War without the Highest Bid How does it differ from other offers Unlike an initial offer, which may leave room for negotiation, a best and final offer is meant to reflect the maximum price and best terms you’re willing to offer—including contingencies, closing timeline , and financing details.
Redfin
JULY 30, 2025
Without a clear plan in place, you risk overcommitting yourself or falling in love with a home that stretches your finances too thin. 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. What is the best way to make an offer on a house?
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HomeLight
MAY 24, 2021
A step up from pre-qualification, preapproval often means the lender gives conditional approval, stating the size of the mortgage you’ve been preapproved for (though what constitutes a “preapproval” can vary from lender to lender). Remember, if you’re financing the purchase, you might not be able to eliminate some contingencies.
HomeLight
AUGUST 31, 2021
The associated contingencies , which come with additional risks for the seller, are where you’ll find most key distinctions between a cash offer and an offer backed by a mortgage loan. The most obvious contingency with an offer that requires financing is, of course, the financing itself. There’s no financing contingency.
HomeLight
JANUARY 4, 2022
According to a Q3 2021 study by ATTOM Data Solutions, all-cash home sales are at their highest level since the first quarter of 2015, with 34% of all single-family homes and condos purchased without financing. “In Who’s paying cash for houses? Reasons to sell your house for cash.
HomeLight
MARCH 2, 2023
Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs you might have as well. Conforming loans are given to buyers who fit into the qualification guidelines set by the entities Fannie Mae and Freddie Mac, who purchase loans after they are originated. Loans are between 3%-3.5%
HomeLight
DECEMBER 14, 2021
Be sure and ask any agent that you’re interviewing about these qualifications. Pre-listing or when looking at houses, and when evaluating offers.In It could be the close date, repairs, or a rent back period. A good agent knows how to handle the back and forth of negotiations.
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