01/11/2023
Real estate can change in a second. And sometimes, after youâve put an offer in on a house, you might need to withdraw that offer. But is it even possible?
Well, it depends on your specific situation and when you decide to withdraw the offer.
Itâs easiest if you realize that you need to withdraw your offer early in the process. If your offer hasnât been accepted in writing by the seller yet, your real estate agent can quickly let them know that the offer is no longer valid, and youâre good to goâoffer withdrawn.
But if the seller has already accepted your offer and a signed purchase agreement exists between you and the seller, things get a little more complicated.
In this case, you would only be able to withdraw the offer if one of your contingencies comes up, like a bad inspection report or an appraisal gap. If youâve just had a change of heart on the house, youâll have to come to an agreement with the seller, since thatâs not a valid contingency.
Of course, if you do need to withdraw an offer, your real estate agent will guide you through the process. However, itâs best to be 100% sure you want the house before you make an offer.
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