If I put a bid in on a home am I obligated to that home?

Sassymama
Home Buyer
18104

Interested in another home

Answers (6)

Good morning, Sassymama!

My question to you is did you make the offer in writing? Has the offer been accepted by the seller? If it has, then you are obligated to follow through because it is a binding contract. If not, then you may ask your real estate agent to withdraw the offer.

May I ask why you are considering withdrawing your offer?

If you wish to withdraw the offer once it has been accepted for whatever reason, the seller must release you from the agreement in writing and you will certainly lose your earnest deposit money. For any further questions, consult a real estate attorney to help you out.

Brigita McKelvie, REALTOR, e-PRO, GRI
Keller Williams Real Estate, Bethlehem, PA
Office: 610-867-8888 Direct: 610-393-9424
E-mail: brigita@brigitamklv.com
Web: http://www.brigitamklv.com

Tue Oct 27 2009, 04:47
Deb Fusco
Agent
Allentown, PA

If the offer was accepted and signed by the seller then you are bound by the contract. If the seller has not signed yet, you may ask your Realtor to recind your offer. There should be a time limit for the seller to respond, so I would check that. Lots of luck to you. Deb Fusco

Sat Oct 24 2009, 18:20
Sean LaSalle
Agent
Center Valley, PA

If the seller signed the offer then yes you are. If they did not sign it then no.

Sea LaSalle
Weichert Realtors

610 737 5369

Sat Oct 24 2009, 17:09
Kathleen Lordbo...
Agent
Brainerd, MN

If by a bid you mean a signed purchase agreement with earnest money - it will depend on where you are at in that transaction. If it has been accepted ,you could still get out but will be forfeiting your earnest money and that if certainly fair. You wanted it and now you want something different - they may well be thinking that you are buying and they are preparing to move.

Sat Oct 24 2009, 16:49
Kim Noonan
Broker
Will County, IL

If you made an offer and the seller hasn't yet signed/accepted it, you can generally ask your agent about rescinding or withdrawing your offer in writing prior to the seller's acceptance.

If the seller has signed/accepted your offer? You need to consult an attorney for legal advice about attempting to void or cancel a contract.

Sat Oct 24 2009, 16:43
Sean Dawes
Agent
Philadelphia, PA
FIRST ANSWER

Did you write up an agreement of sale and is it in writing?



Sean Dawes

Sat Oct 24 2009, 16:32

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