ani2525
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if you do not have a contract signed by both parties and you are under no obligation to buy anything. just tell him u don't want to buy it anymore and that's it. if he says anything stupid tell him u do not have a legal sales contract |
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Doctor Hand
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An offer is not binding so don't worry about it.
In fact, that's the purpose of earnest money - so that if the buyer doesn't follow through, then the seller will still get something for his trouble.
You can be sure that if someone makes a higher offer then he will sell the house to that person and ignore your offer. |
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stingray4540
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as long as you didn't sign anything, there should be no problem with backing out. If you want to be sure, then call a realestate agent and ask them. |
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BoomChikkaBoom
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Rescind your offer.
Did you sign a contract yet? If you haven't, you shouldn't have a problem. |
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spottersd
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Doesn't sound like you're actually in escrow so I can't see that you verbally offering to buy the house could be binding. Also....just because you've expressed interest in the house, if he doesn't except your low offer then the deal is off. You're not obligated to negotiate with him. |
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babe_in_the_country
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If the offer is in writing, you can cancel the contract based on a number of reasons. You can cancel based on seller's disclosures, based on the home inspection, the survey, the appraisal, availability of homeowners insurance, or if your mortgage payments are going to be too high. You need to read through your contract carefully and see if you have checked those options. If you haven't, then you might be in a bind. But if you didn't put any Earnest money down, then I don't think that it would be a problem for you to just back out. If you are still in negotiations about the price, meaning, if you haven't come to terms with a set price, then you can back out at any time. You really should consult with a local Realtor and have them go through the contract with you and make sure that your landlord hasn't tried to pull one over on you. If the contract is verbal, it is not binding in court. Good luck to you. |
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From a real estate agent
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Based on the info you gave there is no legal contract between you and the land lord. If it's not in writing it isn't worth the paper it's written on. You have no written agreement and therefore nothing to worry about. |
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Karen R
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As long as you don't have an accepted offer you don't have a contract. Withdraw your offer in writting. |
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georgia
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yes you certainly can
don't buy it - it's a huge thing to live with that regret |
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smart_law_girl
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Absolutly! That house is not your problem until you sign on the dotted line! |
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El Tigre
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You can get out as long as you have not signed any paper. |
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amkornele
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As long as he has not accepted your offer, then you can rescind it without any penalties. However, you might want to consider a professional appraisal on the home. This will give you a true sense of what the house is worth and will help to support your arguments with your landlord. |
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