Counter Offer Form Real Estate Withdraw
Description
How to fill out Counter Offer To Purchase 3 - Residential?
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FAQ
The general rule is that an offer or counteroffer may be revoked at any time before acceptance by the other side.
The risk in making a counter-offer is that if the buyer has changed his or her mind and rejects the counter-offer, you don't have the option to return to the original offer and accept it. But, the buyer may decide to make another counter-offer back to you.
Put the withdrawal in writing; deliver it to the agent or seller; and. provide the withdrawal only if they have not been advised their offer has been accepted.
Again, the short answer is yes. If you back out of a signed contract for a reason not explicitly stipulated as a contingency, not only do you risk losing your earnest money, but the seller could possibly seek further legal action. It's easier to back out of buying a house before the purchase agreement is signed.
Until both parties?buyer and seller?agree on the terms of the contract and have signed the purchase agreement, no one's legally bound to anything. If you're at this point, you can withdraw your offer whenever you want, and there's no problem.