Utah Offer to Purchase
Description
How to fill out Offer To Purchase?
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FAQ
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.
The bottom line is that once you have signed a contract, you are legally bound to follow through ? although there may be ways to break free. If circumstances should arise that make you want to rescind your offer to buy a home, you may need legal help to do so.
In general, the seller can't accept another offer once all parties have signed the purchase agreement; however, detailed situations and state laws may vary. There are situations where you might think your offer has been accepted, but it actually hasn't.
Can a seller pull out after accepting an offer? If there is an available contingency in the contract, the buyer can't secure funding, or there is fraud on the part of the buyer, the seller may usually cancel the contract. You may also cancel the sale during the attorney review period.
Utah is a Non-Disclosure state, meaning what a home was purchased for is not part of the public record.
This is a legally binding Real Estate Purchase Contract ("REPC"). If you desire legal or tax advice, consult your attorney or tax advisor.
Yes, you can, if your contract has the right contingencies built in and you don't wait too long. The seller can, too. Your contract to purchase the home likely includes a contingency clause that states both the buyer, as well as the lender, must sign off on the home inspection and the appraisal.
This is a legally binding Real Estate Purchase Contract (?REPC?). Utah law requires real estate licensees to use this form. Buyer and Seller, however, may agree to alter or delete its provisions or to use a different form.