You can make the offer, but the seller will have to decide if they want to breach their current contract and be held liable, which might include specific performance. If the current buyer decides they really want that property, they can sue for performance of the contract. This would not allow you to take ownership of the house even if the cashiers check were cashed and spent. It would be better to make your offer a back up offer and hope that the current buyer falls out of escrow; or you can let escrow close and make your offer to the current buyer(new owner).
What makes the situation somewhat worse for you is that you made your search for information public rather than speaking to a single Realtor you trust. If you had a Realtor already, you would not be asking this question on Trulia. If the current buyer's escrow falls out for some strange reason, this forum would prove they had an outside offer from you and were purposely trying to get out of the contract. This would be the exact kind of proof the current buyer would need to prove their case and sue for performance of the contract. Get yourself a Realtor.
Buying a home is very emotional. Make the back up offer and hope for the best; or else look for a new property to invest in.
Have a prosperous day,
Just keep an eye on the situation, and if the closing unravels, be there to close quickly.
You can also try to give a back up contract (which won't be signed, but will put the seller on notice that you are out there as a buyer). But, a contract is a contract, and karma...comes back to haunt you.
CDPE - Certified Distressed Property Expert
Beachfront Realty, Inc.
FairPlayâ€¦as a conceptâ€¦.Real estate may be a game - but that doesn't mean it's a free for all without rules or consequences.
Be safe out there -
Best of luck!
Nelson Shelton & Associates
355 N. Canon Dr.
Beverly Hills, CA 90210
Afraid not - if the home is currently in escrow, the seller would be under a legal and binding contract with the other buyer, and would probably not be able to get of the contract just because they got another offer. Unless the seller has the right to cancel the contract due to the buyers non-performance or some other provision, they would he locked into their current deal. Sorry, hope this info is helpful.