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First time home buyer

I’m a first time home buyer, still looking for a house to buy. My realtor has taken me to look at several houses, and a couple days ago, I went to a house that was very nice but not in the best area (the house was renovated) Anyways, they listed the house for $218k. This is the first time I ever put an offer on a house, I told my realtor I could do $206k. He went home to do paperwork, and then called me and was asking me how much I wanted to pay for due diligence and earnest money? He told me that makes the sellers know that i’m serious about buying the house. He said if they end up taking my offer and my DD and earnest money, and inspection and everything went well, I would get the money back as a credit when buying the house. BUT if let’s say something in inspection went very wrong and I didn’t want to buy the house anymore, the sellers would keep the DD money and the earnest money. Is this a normal thing? I never seen anyone on here talking about that stuff. This is my first time putting an offer on a house. Also any tips when buying a house would be much appreciated!

submitted by /u/carllacee
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source https://www.reddit.com/r/RealEstate/comments/pf0l86/first_time_home_buyer/
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