can a buyer withdraw their offer after they signed the contract and submitted their down payment? We, the

Asked by Britt, Setauket, NY Tue Jul 21, 2009

seller, wanted to make some changes which were expressed orally to the buyer's attorney, but when they refused these changes, we agreed and signed the contract as is. They said they were withdrawing their offer orally at this point.

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Rose Pinto, Agent, Setauket, NY
Thu Apr 19, 2012
You can withdraw the contract as long as both parties have not fully executed the contract.
If both parties have signed and fully executed the contract, you still have to comply with certain contingencies, perhaps if you cannot comply, you can pull out then.
Always speak with your attorney.
They have your best interests represented.
Good Luck.
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Jaishree..Ja…, Agent, Woodbury, NY
Tue Jul 21, 2009
Hi Britt,
Once the buyer and seller signed the contract and seller atty had released the contract, it's tricky situation. I will advised you to discuss with your atty for "what is the best thing for you". Good Luck..
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Barry Forten…, , Tucker, GA
Tue Jul 21, 2009
A contract ,in Georgia, is not a valid contract until both parties have signed and a copy of the signed contract is delivered to both parties. Proir to that, a buyer may withdraw their offer. Also, most contracts have a due-diligence period, usually 10 days. This period is to give the buyer time to determine if there is a problem with the home or the loan. The buyer can withdraw the offer during this period.
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Celia M Means, Agent, Columbia, SC
Tue Jul 21, 2009
anybody can withdraw an offer at any time but the consequences of doing so depends on the the contract that has been signed, usually the buyer would loose their earnest money but like i said, it depends on the written contract. Now based on the idea that you made changes orally, then i would consult with your lawyer to see what would apply here.
i know it is much help but there is no much information and yes, it does happen
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Anna M Brocco, Agent, Williston Park, NY
Tue Jul 21, 2009
For an accurate answer and not knowing all the fine details, refer your question to your attorney, he will be your best source as he knows all the contract details.

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