One additional point: Whether or not you're preapproved doesn't make any difference. What matters is whether the sellers have signed your offer yet.
Note: If they've already signed, you may have some contingencies in your offer that could allow you to terminate the contract. For example, you might have a home inspection contingency. And if the home inspection comes back unsatisfactory, that could be an "out." Or if you're buying a condo or a property in an HOA, you're generally entitled to review the documents--often providing you a several day window. If the documents are unsatisfactory, that also can be an "out." So even if you waived the financing contingency (which you shouldn't have), there may be other ways to terminate the contract.
So, again, check with your Realtor.
Hope that helps.
What goes up must go down and more importantly when it's down it has no where to go but UP. You most definitely have bought future equity. If you do buy this home you will more than likely see future equity within the next five years and be able to sell at a profit should you choose to do so.
All the Best
Dave & Lisa
Acting on this as soon as possible is advisable. Begin by contacting your agent!
Ask your Realtor. Mty thought is that you can retract an offer at any time prior to it being accepted. A legal contract involves a meeting of the minds. However it depends upon the content of the written offer.
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How are you? Thank you again for your inquiry. IF you've only sent over the contracts and the seller hasn't signed it and returned it back to you yet, try to ask whoever that you're working with withdraw the agreement before they send it back to you. OR, if they did signed it but made some changes to the agreements, then it is up to you to either accept what has been changed by initializing the changes, or just tell the seller that you no longer wish to purchase the property because IF there's changes made by seller to the contract and waiting for you to accept, the ball is in your hand to accept or not.
Hope that helps!
If you have any questions, please feel free to email or call me at (267) 918-1880. Have a nice weekend!
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