2007-02-20 14:21:11 · 8 answers · asked by meow8384 3 in Business & Finance ➔ Renting & Real Estate
i meen buying
2007-02-20 14:23:13 · update #1
An offer to purchase is not legally binding until the seller accepts your offer. If the seller has not accepted the offer it should be as simple as submitting a cancellation request. If the seller has accepted your offer then you now have a legally binding contract which obligates both you (buyer) and the seller. At this point, If you try to back out you will very likely forfeit any earnest money you put down to the seller. Additionally, the seller could take you to court for any other financial losses (if any) that could result from backing out of a contract.
2007-02-20 16:37:18 · answer #1 · answered by Derrick L 2 · 0⤊ 0⤋
You can withdraw your offer of purchase anytime prior to signing the contract of sale. You might lose any deposits, depending on the provisions of the contract.
2007-02-20 22:29:51 · answer #2 · answered by Imogen Sue 5 · 0⤊ 0⤋
In my case from November, we had 10 days (as predetermined in the contract) after the offer is accepted.
2007-02-20 22:26:48 · answer #3 · answered by Amber D 1 · 0⤊ 0⤋
you may lose your deposit, the deposit you make is tied to the offer, however the actual sale of the house only goes through at settlement, you really need a real estate attorney for this and it should be like $50 for his advice
2007-02-20 22:29:33 · answer #4 · answered by skaterboiz 4 · 0⤊ 0⤋
Check with you Real Estate Agent, they should be able to advise you on ways you can cancel the agreement without losing your deposit, or at least save some of your deposit.
2007-02-20 23:13:10 · answer #5 · answered by The Drew 4 · 2⤊ 0⤋
Yes. You provide the seller with a cancellation notice.
2007-02-20 22:27:39 · answer #6 · answered by Voxygen8 4 · 0⤊ 0⤋
yeah. send in cancell request NOW if you don;t have a signed contract. if you do it can get tricky
2007-02-20 22:26:03 · answer #7 · answered by spideyrealestate 2 · 0⤊ 0⤋
the house would have to not be as described, ( some defect not previously known) or your mortgage would have to not go through. otherwise, I don't know.
2007-02-20 22:24:26 · answer #8 · answered by bosco6159 4 · 0⤊ 0⤋