Home Offer - Posted by Garrett O'keefe

Posted by christine mendenhall on November 07, 2006 at 22:01:52:

She can as long as she has permission from her sellers.

You can back out until your offer becomes first position. It is possible that if the first position buyers do not have loan commitment by the specified date they can request more time. And if all parties agree the time will be granted, still leaving you as the back up.

Are you working with an agent on this or going solo while the sellers have their agent? I would think that your working with an agent. Or the seller has an “open” listing agreement with theirs. Only wondering because it seems to me, your agent would have told you all of this.

C

Home Offer - Posted by Garrett O’keefe

Posted by Garrett O’keefe on November 07, 2006 at 17:16:19:

My wife and I put a offer on a house in NY. It is a back up offer. The other buyers offer is waiting on a letter of commitment. Is the sellers Real estate agent allowed to tell us the date they have to get that in before the Seller can accept our offer? Can we pull the backup offer with out penelties if we find something else while we wait?