Offer Question

[AnotherPrincess]

Can someone please tell me what legal obligation I have if I put in an offer on Thursday that the seller still has not responded to? If I find another contract to bid on can I do that with no legal consequence?

 

[disneynutz]

Can someone please tell me what legal obligation I have if I put in an offer on Thursday that the seller still has not responded to? If I find another contract to bid on can I do that with no legal consequence?

I would be checking with the broker to find out why no response. Some sellers aren't motivated and until you know the details you can't move forward.

Bill

 

[AnotherPrincess]

I have contacted the broker. All they said is they left a message and would let me know when they know something. If I find another contract to bid on can I not just rescind my offer?

 

[z28wiz]

If they never responded at all and no paperwork is signed you can back out whenever. If you signed you have a 10 day cool of people that you can rescind your offer.

 

[disneynutz]

I have contacted the broker. All they said is they left a message and would let me know when they know something. If I find another contract to bid on can I not just rescind my offer?

Yes you can. Sometimes the broker will have additional info, like "the seller is on vacation" or "they never respond to any offers".

Having this info would help you make your decision.

Bill

 

[CarolMN]

If you made the offer verbally,call the broker and tell her you do not want to wait any longer for a response and are withdrawing your offer.

Then next time, put a time limit on your offer - 24 hrs or 48 hrs or whatever you are comfortable with.

If you made the offer in writing (email), do the same thing, but via email.

 

[AnotherPrincess]

If you made the offer verbally,call the broker and tell her you do not want to wait any longer for a response and are withdrawing your offer.

Then next time, put a time limit on your offer - 24 hrs or 48 hrs or whatever you are comfortable with.

If you made the offer in writing (email), do the same thing, but via email.

I like the idea of putting a time frame in my offer. Seems like I remember doing that when I bought my house. Should have thought of that for this. It's the 4th offer I've made and each time before I knew within an hour that we didn't have a deal. Thanks for the input everyone.

 

[AnotherPrincess]

Update: I withdrew my offer via email, the same method used to make the offer. I got a call back within 2 minutes of sending (shocking)! She said the seller never responded. I said that was fine because I was no longer interested in dealing with that company. She said she completely understood.