Question Details

Alex, Home Buyer in Ypsilanti, MI

If deal isn't closed on by the closing date, can I place an offer of a different house?

Asked by Alex, Ypsilanti, MI Sun Jun 8, 2008

My fiance and I placed an offer on a house on March 27th, and it was accepted by the owner on March 29th. it is a "Short Sale". The lien holder (Countrywide) still hasn't given a YES/ NO answer. We set our closing date for May 9th (we're now at June 8th). If we place an offer on another house and they accept it, are we still held liable for the previous house (even though all dates are now past)?

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Hi Alex -

Since I don't have your contract, I am saying this from what you described. You should be fine, but you should still send a cancellation letter, just to be formal and also a courtesy and nice thing to do. I would.

Sylvia
1 vote Thank Flag Link Sun Jun 8, 2008
Sylvia Barry,…, Real Estate Pro in Marin, CA
MVP'08
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Hi Alex:

Yes, you can since they have not met the terms you specified.

However, I would formally send a cancellation request with the reason in whatever form your local real estate law requires and cancel the first offer.

I assume you have not opened escrow yet, right? If you have, you also want to make sure you get your deposit back, if any.

This is just cleaner and safer.

Sylvia
1 vote Thank Flag Link Sun Jun 8, 2008
Sylvia Barry,…, Real Estate Pro in Marin, CA
MVP'08
Contact
We haven't open an escrow, so we wouldn't lose anything at this point.
0 votes Thank Flag Link Sun Jun 8, 2008
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