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Its all about confidence in your ability to get credit and follow through on the deal. Just because a person is pre-approved for a certain amount does not mean they can get the loan. Thats the whole idea behind 'earnest money'. Keeping the seller in the deal and not looking at other offers. Our recent home purchase did get gummed up, and the first thing I did was send the sellers a healthy chunk of $ of additional earnest money to let them know we could follow through.
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