Can I (buyer) back-out of an offer verbally if seller counters or do I need to sign some documents to back out and get my deposit check back? I can't trust my real estate agent. The property is located in Los angeles area.
2007-06-20 15:55:59 · 5 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
If the seller hasn't accepted your offer you don't have an agreement so you will get your deposit back. If they accepted the offer and you got cold feet they could keep the deposit.
Normally in your offer you would have given them a time limit to accept your offer and the would have given you a time limit to accept the counter offer, if you don't accept the counter offer they might offer you another but you don't have to accept.
To get them to stop now make a counter to their counter requesting things you know they won't give like a much lower price or major improvements.
2007-06-20 16:02:30 · answer #1 · answered by shipwreck 7 · 0⤊ 0⤋
First foremost, I want to urge you to always choose to work with an agent you can trust with your life. A big part of the problem here is stems from this is seems.
Regarding your deposit,....Until such time as you have contract signed by both parties....you don't have any contract at all. After than point, the deposit is direct by what the contract says.
I know a real buyer agent in LA. Call me if desired.
John Herman www.BuyConnecticut.com
Exlclusive Buyer's Agents EBA
2007-06-24 09:33:16 · answer #2 · answered by John, a REAL Buyer Broker 2 · 0⤊ 0⤋
Verbal is ok if seller does not accept your offer, if the seller accepted then put it in writing. The agent should be able to handle this. Why on earth would you have a agent that you don't trust??? Buying property is kind of a BIG DEAL in a persons life.
2007-06-20 16:09:57 · answer #3 · answered by Jimmie 4 · 0⤊ 0⤋
If the seller has countered your offer to purchase, the legal effect is that your seller has rejected your offer and proposed a different offer. If you do not accept the counter offer, you should have sound grounds to request a full refund of your earnest money.
2007-06-20 16:04:19 · answer #4 · answered by acermill 7 · 0⤊ 0⤋
yes you can get your deposit back go to the real estate commission website....... basically they have to have everything in writing basically a written contract if not any verbal offer is null in void!
2007-06-20 16:01:41 · answer #5 · answered by realisttruestfemale 1 · 0⤊ 0⤋