Help please!

[sbarisch]

I put in an offer on a BWV resale this morning and was called a bit later by the agent who told me an offer had already been accepted. I moved on and placed another offer with a different agency. Now I find an email from the original agent saying that the seller is countering to myself and another offering person. Now I would prefer the first resale over the second. If I can get it, can I back out of the offer I made on the second?!

Thank you so much!!!

 

[poofyo101]

Yes you can. you have 10 days to back out with no penalty as a buyer.

 

[sbarisch]

Yes you can. you have 10 days to back out with no penalty as a buyer.

Thank you so much!!

 

[DVCsloth]

Unless you signed a contract you are not obligated at all.

 

[MICKIMINI]

You are likely being played by the broker and/or seller as perhaps the first "deal" feel through. This happened to me a couple months ago when I was told that the seller decided to sell to the highest bidder by a deadline. I declined. I would proceed carefully with the first one!

If you have not received a response to the second you can rescind your offer. Good luck!

Edit: My "deal" that fell through was still listed for a week or two after the supposed deadline so the other bidder (if there was one) walked too. Regarding deal #2, some brokers don't get back to you for a day or at all, so waiting for them to contact you may never come to pass so I suggest following up ASAP one way or the other.

 

[Great3]

You can just withdraw your offer on 2nd contract, and proceed with negotiating the first contact. Nothing wrong with withdrawing an offer that doesn't have a response yet, especially if there is no contract yet. If you do have a signed contract, check it carefully. Most contract allow you to cancel for any reason within 10 days without any penalty, others don't, so you would need to look over the contract you sign.

Great3

 

[sbarisch]

Thanks! We ended up having the opportunity to choose whether to accept the seller's counter-offer on the first one, and our offer was accepted on the second. After a brief debate, we chose to keep the second for more points at what, I think, was a really good price.

@MICKIMINI I think you are right, that the first one fell through.