What is the consequence of rejecting an offer to purchase?

Asked by Rochroch, Los Angeles, CA Thu Jun 12, 2008

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Cliff Keith’s answer
Cliff Keith, Agent, San Carlos, CA
Fri Jun 13, 2008
There are no consequences unless you have broken/violated any of the equal housing laws. Rejection just means there was not a "meeting of the minds" hence there is no agreement. Also, in California all real estate transactions must be "in writing".
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Ray Calnan, , Los Angeles, CA
Thu Jun 12, 2008
An additional consequence may be to the agent listing your property. If you have an agreement that you will pay a commission to the listing agent if he/she brings you a full price offer and meets your other terms, then you may have to pay them the commission due.

In most cases the agent will not enforce this unless you are not acting in good faith when considering an offer.

You should ask your agent these questions. It is his/her job to explain these things to you and it is also helpful for him/her to know what your concerns are.

Good Luck,

Web Reference:  http://www.charityar.com
0 votes
Thu Jun 12, 2008
The offer goes away? Better to counter-offer; keeps the ball going across the net, rather than "O.B."
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