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Old 02-02-2017, 12:43 PM
 
10,226 posts, read 7,487,948 times
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If I make an offer on a house, can I rescind the offer before it's reviewed by seller? Like if it's within the hour or so?

Just wondering if once it's sent on its way, it's a done deal. Escrow check not sent with it. That's done if offer is accepted, I think.
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Old 02-02-2017, 12:45 PM
 
Location: Cary, NC
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You can rescind an Offer.
An Offer is not a contract. Once it is a contract, it gets a bit stickier depending on location and the contract wording.
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Old 02-02-2017, 12:46 PM
 
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Quote:
Originally Posted by MikeJaquish View Post
You can rescind an Offer.
An Offer is not a contract. Once it is a contract, it gets a bit stickier depending on location and the contract wording.
Thanks so much.

I'm just very nervous about making offers. The agents are so pushy. Just wondering if I get pushed, and then realize it it was a mistake, if I can undo it.

Thanks.
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Old 02-02-2017, 12:52 PM
 
Location: Rockville, Maryland
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Hi bpollen,

You should have no problems rescinding your offer in the scenario you've laid out.

In the DC area where I am located buyers are allowed to rescind their offers before the home inspection contingency since the home inspection usually occurs within the first 7 days, if one is part of the contract. If you do not have any contingencies in the contract and the seller has not reviewed the offer than you should be able to rescind the offer if you've had a change of heart.
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Old 02-02-2017, 12:55 PM
 
10,226 posts, read 7,487,948 times
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Quote:
Originally Posted by williams.bola View Post
Hi bpollen,

You should have no problems rescinding your offer in the scenario you've laid out.

In the DC area where I am located buyers are allowed to rescind their offers before the home inspection contingency since the home inspection usually occurs within the first 7 days, if one is part of the contract. If you do not have any contingencies in the contract and the seller has not reviewed the offer than you should be able to rescind the offer if you've had a change of heart.
Thanks. That's a relief.
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Old 02-02-2017, 12:58 PM
 
Location: Rochester, WA
14,305 posts, read 11,772,793 times
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I would be looking for an agent to represent you who is NOT pushy, who you would trust to ask this question of. It's important that you feel represented, not pushed.

Clients tell ME when they want to make an offer. I don't tell them.
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Old 02-02-2017, 02:08 PM
 
3,602 posts, read 7,850,061 times
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> In the DC area where I am located

Yeah, but maybe OP is not in DC. He didn't say where he is.

OP: (1) you need to understand procedures in your locality and (2) you need to read and understand the offer before signing it.
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Old 02-02-2017, 03:01 PM
 
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For one thing, you might get a copy of your area contract now so you can read it over and start thinking about the wording.
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Old 02-02-2017, 03:13 PM
 
8,539 posts, read 12,259,217 times
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Quote:
Originally Posted by bpollen View Post
Thanks so much.

I'm just very nervous about making offers. The agents are so pushy. Just wondering if I get pushed, and then realize it it was a mistake, if I can undo it.

Thanks.
Yes, you can rescind an offer before it is accepted...but if you're that nervous about it you shouldn't submit an offer in the first place. With present day communications, an offer could be accepted very quickly. You shouldn't be submitting offers relying on some way to back out. It's not fair to Sellers and you could find yourself in a bad situation.
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Old 02-02-2017, 03:30 PM
 
Location: Virginia
10,043 posts, read 6,307,300 times
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If you're going to rescind an offer, you should do it ASAP. Otherwise, if it's accepted, you'll need to use the home inspection as a reason to get out of the deal, and that can add up after a while.
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