Home Buying in Chicago>Question Details

Donnah, Home Buyer in Mobile, AL

When can I withdraw an offer?

Asked by Donnah, Mobile, AL Sat Jun 30, 2012

We made an offer on a house. Agent said it was refused - no reason given to us. We made another offer, Agent said another offer had been also submitted - making us wait. Is this right?

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Answers

11
As previously stated, as a buyer represented by a licensed realtor you have the right to withdraw your offer at any point in the process.

Best of luck with your search!
1 vote Thank Flag Link Tue Oct 30, 2012
can a seller withdraw an offer
0 votes Thank Flag Link Mon Oct 29, 2012
Hi Donnah,

You can withdraw your offer at anytime.

The sellers have 3 options when receiving offers: reject, accept or counteroffer. If your offer came in really low the sellers may have perceived you to not be a serious buyer, hence the rejection.

It is very possibly the property is receiving multiple offers. I have had this happen more often frequently. The market is turning and multiple offers are no longer "a thing of the past".

Hope this helps!

P.S. Work with your broker. If you don't have one then get one. Start with the brokers that responded to your query right here on Trulia.com.

Good luck!
0 votes Thank Flag Link Sun Jul 1, 2012
You can withdraw it at any point.

And yes it is perfectly legal for them to refuse your offer. You may have come in to low. Then a much better offer came in. The sellers may have looked at you and said here is this low ball offer and got offended. Then a great offer comes in and they feel more comfortable working with that instead.
0 votes Thank Flag Link Sun Jul 1, 2012
In illinois you can withdraw an offer anytime you want.
0 votes Thank Flag Link Sun Jul 1, 2012
You can withdraw your offer anytime you like, simply instruct your agent to withdraw your offer.

Is your buyer agent also the listing agent, if so, I would advise you to fire your agent immediately and go find one that won't try to work both sides of the transaction at the same time. If your agent isn't the listing agent then you have two choices, wait and see if you get a counter offer or withdraw your offer immediately. It's certainly reasonable to believe that more than one offer has come in, it happens all the time, It's also perfectly reasonable to have your agent demand that if your offer isn't accepted and no counter offer presented, that the Sellers write on the first page of your offer "Reviewed and Rejected" and then sign and date it as evidence that your offer was properly presented.

Good luck, I hope things work out for you.
0 votes Thank Flag Link Sun Jul 1, 2012
In the State of Connecticut, you can withdraw an offer prior to acceptance. And as almost everybody advised, have your realtor submit the notice in writing.

Discuss this with your realtor.

Best.
Maria
0 votes Thank Flag Link Sun Jul 1, 2012
Any offer can be withdrawn prior to contract execution....but always do it in writing as added protection. Even after contract execution, you have a legal right to walk under certain situations and timelines as stipulated in the contract. Ensure you have a real estate agent represent you to ensure your protections are detailed in the contract. Good luck!
0 votes Thank Flag Link Sat Jun 30, 2012
It appears that there are 2 offers on the table and the sellers are trying to make a decision. If you have changed your mind, then contact the seller's agent immediately and w/draw your offer.
0 votes Thank Flag Link Sat Jun 30, 2012
If your offer has not yet been accepted you can withdraw, but do it in writing and hopefully by then
you do have a Realtor representing YOU.....
Best of luck.....

Let me know if I can be of further help.

Sincerely yours,
Edith YourRealtor4Life & Chicago and Northern Illinois Expert
Working always in the very BEST interest of her clients, Buyers, Sellers and Investors alike....
Covering for @Properties the city of Chicago, all N and NW suburbs, the fine homes on the
North Shore, and many of the W and SW suburbs, and with her trusted Partner Agents all of
the US and worldwide properties. Edith speaks French, German, some Spanish and other.....
@Properties, 30 Green Bay Rd, Winnetka, Illinois 60093 ---- EdithDoesItRight@yahoo.com or EdithSellsHomes@gmail.com Check out my website at htttp://www.tinyurl.com/MeetEdithHere
get to know me better and learn about my experience, expertise, services available and letters of recommendation of former clients..... Also you can sign up on my site to search for properties in my expanded service area. HAVE THE MOST WONDERFUL DAY :)
0 votes Thank Flag Link Sat Jun 30, 2012
You should not be working with the listing agent if you are the buyer. Find yourself a good local Buyers Agent, i.e. a Realtor who will work for you, you commit to him or her and they will do the same, you work only with one..... Through your Buyers Agent you will not only be represented but also the negotiations and presentation of offers will be handled by a professional, and you will get a market evaluation in order to offer the right price for a property and thereafter so many details to be taken care of YOU really want and need a professional on your side to look out for you...

The buyers agent does not cost you any in most cases if not all, the Buyers Agent's commission will be paid by the selling side at the closing table from the seller's proceeds. And remember the
listing agent does have a written listing agreement with the Seller and works in the interest of the
Seller!!!!!

If you need a recommendation of a Buyers Agent in your area let us know.

And just so you understand, yes it is possible that another offer comes in at the same time as
yours or while you are negotiating...... so it always depends on how the Seller wants that handled
but if you have a Realtor on your side, then you also have some influence on how long you want
your offer to be open ..... So make sure you do work with a Realtor on your side!

If you have any add. questions just get back to me.


Sincerely yours,
Edith YourRealtor4Life & Chicago and Northern Illinois Expert
Working always in the very BEST interest of her clients, Buyers, Sellers and Investors alike....
Covering for @Properties the city of Chicago, all N and NW suburbs, the fine homes on the
North Shore, and many of the W and SW suburbs, and with her trusted Partner Agents all of
the US and worldwide properties. Edith speaks French, German, some Spanish and other.....
@Properties, 30 Green Bay Rd, Winnetka, Illinois 60093 ---- EdithDoesItRight@yahoo.com or EdithSellsHomes@gmail.com Check out my website at htttp://www.tinyurl.com/MeetEdithHere
get to know me better and learn about my experience, expertise, services available and letters of recommendation of former clients..... Also you can sign up on my site to search for properties in my expanded service area. HAVE THE MOST WONDERFUL DAY :)
0 votes Thank Flag Link Sat Jun 30, 2012
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