Home Buying in Scotchtown>Question Details

Sha2002, Home Buyer in 10941

Can you back out of an offer that is a short sale, has been accepted by the seller but still pending 2 bank approvals?

Asked by Sha2002, 10941 Sat Dec 12, 2009

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Unless you are under contract-- otherwise you can back out anytime.
0 votes Thank Flag Link Sun Dec 13, 2009
You can certainly back out of a short sale offer that has not been approved by the banks yet. You have not signed contracts and the offer was made contingent on the acceptance of the banks. Short sales often take a long time to work through. You may be better off finding a house for sale in your price range that does not have a short sale issue. There are plenty out there. Good luck to you.
0 votes Thank Flag Link Sun Dec 13, 2009
yes, your not under contract yet.
Bill Smith
Keller Williams realty
0 votes Thank Flag Link Sat Dec 12, 2009
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