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(USA) Home Buying Process Precautions

First time home buyer looking to not get screwed over.

If I have all of the appropriate contingencies in place such as home inspection and appraisal, is there any way I can get sucked into a bad deal?

Besides the low inventory, the entire process seems relatively simply UNLESS I am missing something.

From my understanding, if my offer is accepted, I can back out of the deal anytime AND get my earnest back if 1. the home inspection turns up bad and the seller does not want to fix what I ask 2. the house does not appraise and the seller will not negotiate on the price. The only way I will lose my earnest is if I back out of a deal without a valid reason. Is all of this accurate?

Is there anything I am missing? Is there anything my realtor/listing agent or mortgage company can do down the line as a "gotcha" that results in me having to pay more than what is on my closing cost estimate sheet?

submitted by /u/hpizzle12
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source https://www.reddit.com/r/RealEstate/comments/hizw4w/usa_home_buying_process_precautions/
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