If you Bid on a HUD home and changed your mind after the BID had been accepted, are there any consequences.

Asked by Not Too Sure, Mc Kellar - Whitehaven-Levi PD, Memphis, TN Mon Mar 14, 2011

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Dallas Texas, Agent, Dallas, TN
Mon Mar 14, 2011
All is governed by terms and conditions for sales agreement review those documents OR ask your buyer agent

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
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scott farmer, Agent, Scottsdale, AZ
Mon Mar 14, 2011
It depends as to what stage of the transaction you are in. Have you received signed seller acceptance of the offer or just verbal acceptance? You really need to discuss this with your realtor so that they can best help you with your buyers remorse (which is not uncommon).

If everything is signed sealed and delivered then you are now entered into a legal contract and will need to review and understand the contract to find if you do have an "out". Usually inspections, appraisals, Approval of CCR's and of course ability to obtain financing are reasons to withdraw/cancel. Hopefully, things will look clearer after you speak with your agent.

Good luck,

Sandy Farmer
Realtor, GRI, CSSN
John Hall & Associates
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