I am a home buyer, Just before 2 days I offer a property and it will be opened after 2 more days.

Asked by Raj, Reisterstown, MD Tue Apr 17, 2012

but the main time I do not want that property, and I want to refuse that property. is that possible that I can deny after approving my offer? I am a resident of Baltimore county, Maryland and the property is a fore closer.

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Roy Barker Jr…, Agent, Pompano Beach, FL
Sat May 5, 2012
HI Raj,

If your agent build int the contingency clauses that are there, you should have no problem canceling the deal. Florida Contracts have several exit clauses that can be used as well as some other items in our Contracts.
0 votes
Irina Karan, Agent, Aventura, FL
Sat May 5, 2012
Hello Raj,

In FL, we have several exit strategies that are put in the contract.
However, the addendum that the foreclosure buyer signs, normally changes what you agreed to in your offer. You had to sign the addendum for this to take place, of course.

So, best check your contract and addenda.
Then, you could exit during the inspection period (if you have the right to inspect in your contract and addenda both). You could exit if you were unable to get a mortgage (which could be verified).
You might exit, if the foreclosure bank can't provide a clean title within the allowed time period, and the 30 days after (which are normally given to the seller).

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
0 votes
Darren Nels…, Agent, Fort Lauderdale, FL
Fri Apr 20, 2012
Hi Raj,

It all depends on the terms and conditions that you agreed to.


Darren Nelson
Foreclosure Expert
Coral Shores Realty
1119 E Sunrise Blvd.
Fort Lauderdale, FL 33304
Office: (954) 568-9698 x255
Cell: (954) 881-8800
Fax: (954) 944-3178
Email: dnelson@CoralShoresRealty.com
Website: http://www.SoFloridaRealty.com
Home Search: http://www.SoFloridaHomeSearch.net
What’s my Home Value? http://www.BrowardCountyHomes.info
0 votes
Terry Shambl…, Agent, Lake, MI
Wed Apr 18, 2012
Were you working with a Realtor? If so, contact them at once. If not, take copies of everything to your attorney.
0 votes
Genevieve Ra…, Agent, Punta Gorda, FL
Tue Apr 17, 2012
Talk to your Realtor. Read the terms of the contract and all the paperwork you signed. You may lose your deposit. But the best way to go about this is to talk to your Real Estate agent and they should be able to guide you as to the best way to do this.
Feel free to call or email me if you have any more questions.
0 votes
Annette Law…, Agent, Palm Harbor, FL
Tue Apr 17, 2012
This is the time to consult with your real estate professional.
The answer depends on what you signed, what you submitted and any contingencies involved.

There are many safe guards in place to protect a home buyer in situation like yours. Unfortunately, many 'bank owned' properties will require the buyer to waive many of the rights as a condition of the purchase. Consult with your real estate professional. The likelihood of you being compelled to purchase a home you do not want is remote...but it truly depends on what you signed.
0 votes
John Bennett, Agent, Orlando, FL
Tue Apr 17, 2012
Your Realtor can best answer this question.
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