2007-06-30 10:15:52 · 3 answers · asked by gloria f 1 in Business & Finance ➔ Renting & Real Estate
If you make a conditional offer on a home and then all the conditions are meet.. example: Must have pre-approved loan within 30 days, must have home inspection within 10 days.. if all these things are done then you are now in a fully executed contract that you must proceed with.
If you option to not proceed after that point as the buyer your binder money will be non-refundable.
If the sellers options not to proceed he/she has no claim to the binder deposit.
2007-06-30 11:57:26 · answer #1 · answered by Rosie 4 · 0⤊ 0⤋
Not sure just what you mean by the conditions being lifted. If you mean an offer conditional on certain repairs being made, and the owner makes the repairs, or an offer conditional on getting a mortgage not exceeding 7% and you get the mortgage, then the offer is valid.
2007-06-30 10:21:53 · answer #2 · answered by Judy 7 · 1⤊ 0⤋
Assuming that the seller accepted your offer, you'd be obligated to go through with the purchase.
2007-06-30 10:20:55 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋