how does the process work?
2006-07-18 13:47:22 · 5 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
List price, your offer, accept or reject your offer, renegotiate terms and price until a final agreement is made.
If your bid is accepted, you must pay or risk losing your earnest money. However, there are ways to get out completely if the property isn't up to your standards. This is generally done at the inspection, but then you have to pay the $300-$400 for the inspection.
2006-07-18 13:53:54 · answer #1 · answered by Subterfuge 3 · 1⤊ 0⤋
What do you mean by bid? If you have submitted an offer it is either revocable or irrevocable depending on the contract wording. It is irrevocable if you have indicated a time frame for it to be accepted. If there is no specified time, then the offer is revocable up until the offer has been accepted by the seller.
If the offer was already accepted, do you have any contigencies clauses included? Did you put up a deposit or earnest money? Do you have any funding issues? All these will effect the outcome of retracting an offer. If you gave earnest money, then you would be in default and would forfeit the money but the seller couldn't sue you for specific performance. If you simply put up a deposit, you could lose that, as well as, get sued for specific performance on the contract.
You may or may not have problems if you simply want out or change one of the conditions. You first step would be to contact the seller or their agent and ask. If you are in a good seller's market, then it probably won't be an issue. If the seller has had a tough time selling then they may want to hold you to your agreement.
Hope that answers some of your questions.
2006-07-18 14:14:26 · answer #2 · answered by Sam B 4 · 0⤊ 0⤋
i think of in assessing RVP's fee, you're able to desire to evaluate his age and contractual status. expertise is a ingredient in a pass negotiation, yet the two different factors somewhat have an element to play. If he replaced into in his early to mid 1920s and had, say, 4 years left on his settlement, interior the type he has been in over the previous couple of years then specific, £70 million could be a honest commencing factor for negotiations, yet because it stands he's 29 this summer season and for this reason represents an investment with incredibly little re-sale fee. additionally, he has a three hundred and sixty 5 days and a few months left on his settlement, which skill he needless to say ought to stroll for loose here summer season. Economics and ability are not constantly intertwined in soccer.
2016-12-10 09:48:36 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Well if you have put in an offer, the person has to accept the offer. O presume that at this stage the offer has not been accepted, this would be the best time to put in a different offer.
I recall that in a legally binding contract there are five things that have to be present, offer, acceptance, (I cant recall the other three) perhaps someone else will advise you better, but depends
what stage you are at.
2006-07-18 13:54:18 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Certainly ...JUST contact your realtor ... and eother raise or lower you Bid ....no Problem .... IF you lower it give him a reason why ....such as YOU checked out comparisons in the neihborhood and found them all lower .....
2006-07-18 13:52:21 · answer #5 · answered by trivia king 1 · 0⤊ 0⤋