Home Buying in Ellenville>Question Details

Kolozsvary, Home Buyer in Brooklyn, NY

A bid by my co-buyer has been accepted at 305000 for this house listed at 325000. I do not agree. Can we risk?

Asked by Kolozsvary, Brooklyn, NY Sun Aug 19, 2007

withdrawing the offer and come back later at a lower price?

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5
If the offer has been accepted - I assume there are signatures to that effect. However, when you say co-buyer, again I assume you mean you will be on the loan ap.

I believe both signatures would be required at the loan table, but if the contract only has the one buyer listed - that one buyer is obligated as long as there are no contingencies. You will have to clarify for a better answer, but at face value it seems as though your "co-buyer" just bought a house with or without you.
1 vote Thank Flag Link Wed Aug 22, 2007
Kolozsvary,
To help you out, we need more information. Did you already sign the offer at $305K? Or only your co-buyer signed? Is your concern that your first offer was accepted? If so, we've got a whole thread on that issue... Please re-post these answers, and we'll try to help...
1 vote Thank Flag Link Sun Aug 19, 2007
Until a written contract is signed by BOTH PARTIES (buyer & seller)), you are free to do what you please, at your own risk (of lossing the deal)
0 votes Thank Flag Link Tue Aug 28, 2007
Are you working with a Realtor on this transaction? Is this new or existing construction? If I were the seller, while I would entertain all offers, I would be wary about entertianing an offer the second time around.
Web Reference: http://www.cindihagley.com
0 votes Thank Flag Link Sun Aug 19, 2007
The Hagley G…, Real Estate Pro in Pleasanton, CA
MVP'08
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We could use a little more information here. Also, did you both sign the offer to purchase? Did the sellers accept your offer? Are you thinking you could have purchased it for less? Hummm.
Web Reference: http://pamwinterbauer.com
0 votes Thank Flag Link Sun Aug 19, 2007
Pam Winterba…, Real Estate Pro in Danville, VA
MVP'08
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