Question Details

HomeBuyer, Home Buyer in California

I put in an offer for a house. I would like to change my offer to a lower price. Can I change my offer?

Asked by HomeBuyer, California Tue Sep 25, 2007

Offer has not been accepted.

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You may have to prepare yourself to re-negotiate other terms of the offer as well, if they are willing to re-negotiate sales price, such as them not paying as much closing costs or pre-paid items (if those were a part of your orriginal offer), perhaps not allowing for as much in repairs, moving closing date around, reducing other incentives, etc. Because your first offer built an expectation level, other items may now have to fluctuate. It can be done, but be prepared to give and take!
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0 votes Thank Flag Link Tue Sep 25, 2007
You should be able to withdraw your offer if the offer has not been accepted. It does create an awkward situation with the seller when you make a new offer at a lower price but in today's market it might not be that surprising.
0 votes Thank Flag Link Tue Sep 25, 2007
If your offer has not been accepted as you state, then, you can withdraw your offer and put in a new one. Like Paul states, though, it will not go over well with the sellers and you should be prepared to answer the question: "Why" Remember, too, that putting in the offer is only the first stage of a long process where you will be working with the sellers. Aggravating them this early on will only make future communication/negotiations with them difficult, right through the closing.
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0 votes Thank Flag Link Tue Sep 25, 2007
It might depend on where you are, but in most cases, you are able to withdraw your offer prior to the other party's acceptance. If the seller signs it, your stuck. Your agent should be able to submit a written withdrawal of your offer to the lister. You can follow this up with the new offer. I would caution, though, that showing the seller one price prior to coming back with a lower price is not going to help negotiations go smoothly.
0 votes Thank Flag Link Tue Sep 25, 2007
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