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Started By
Message
Home Buying Question, able to walk away?
Posted on 7/11/14 at 1:15 pm
Posted on 7/11/14 at 1:15 pm
We are looking to buy our first home, we submitted a written offer for 255. After negotiating we verbally agreed on 269 Wednesday. We were waiting on the paperwork to resign confirming that price and have had other housing opportunities that make more sense made available to us since.
Since we haven't signed anything, but have verbally offered 269. Do we have any way to get out of this now?
Since we haven't signed anything, but have verbally offered 269. Do we have any way to get out of this now?
7
Posted on 7/11/14 at 1:21 pm to Mizzoufan26
you have tons of time to get out of this... especially at inspections
so nothing is signed
quote:
waiting on the paperwork to resign confirming that price
so nothing is signed
Posted on 7/11/14 at 1:23 pm to Mr.Perfect
Are you not working with a realtor??
Just walk
Just walk
Posted on 7/11/14 at 1:23 pm to Mizzoufan26
dem folks gonna hate you btw
Posted on 7/11/14 at 1:25 pm to Mr.Perfect
We signed original offer for 255, renegotiated verbally through our realtor until we reached 269.
Only thing signed was the original offer submitted. We have new paperwork drawn up for 269 the realtor wants us to come sign now.
We were offered our military housing which is closer, cheaper, just as nice, newer, and without the risks of home owning. Don't anticipate being here long enough to make any money off the home purchase, and it has an HOA which is always annoying
Only thing signed was the original offer submitted. We have new paperwork drawn up for 269 the realtor wants us to come sign now.
We were offered our military housing which is closer, cheaper, just as nice, newer, and without the risks of home owning. Don't anticipate being here long enough to make any money off the home purchase, and it has an HOA which is always annoying
This post was edited on 7/11/14 at 1:27 pm
Posted on 7/11/14 at 1:27 pm to Mizzoufan26
quote:
Only thing signed was the original offer submitted. We have new paperwork drawn up for 269
till both parties sign that you are free and clear.
the only offer that MIGHT be bind-able is the 255 your signature is on. And that is only if it did not expire.
Honest question, have you discussed walking from this with your Realtor?
Posted on 7/11/14 at 1:29 pm to Mr.Perfect
No haven't talked to him about it yet. Wanted to figure out if we were bound to this as of now. Would make the rest of the process awkward if we told him we wanted out and he said sorry, you can't
Posted on 7/11/14 at 1:32 pm to Mizzoufan26
You signed your 255 offer, which was rejected. Walk away if you want.
Posted on 7/11/14 at 1:33 pm to Mr.Perfect
quote:
the only offer that MIGHT be bind-able is the 255 your signature is on
That offer was rejected.
Regardless, the sellers would not want to hold him to that offer considering they want 14 more.
But
quote:
dem folks gonna hate you
This post was edited on 7/11/14 at 1:36 pm
Posted on 7/11/14 at 1:36 pm to AnonymousTiger
Yeah.. them coming back and saying they accept the 255 would be a great day.
Posted on 7/11/14 at 1:36 pm to Mr.Perfect
quote:
dem folks gonna hate you btw
That's a fact. The earnest money will be a small (very small) help for them to get over it. But having recently sold a house, this would have really really sucked.
Posted on 7/11/14 at 1:38 pm to lnomm34
Would they get the earnest money?
Posted on 7/11/14 at 1:39 pm to Mizzoufan26
Possibly. But not necessarily. Since you haven't actually come to an agreement, then you might be able to get it back. Earnest money is sometimes different from state to state and depending on the stipulations you put in when giving the money over. But again, they rejected your initial offer so I would ask for it back.
This post was edited on 7/11/14 at 1:46 pm
Posted on 7/11/14 at 1:48 pm to Mizzoufan26
Sounds like this is a pretty standard offer, counter-offer scenario, you should be fine to just walk. They shouldn't have your earnest money yet, right?
Posted on 7/11/14 at 1:49 pm to Mr.Perfect
quote:
dem folks gonna hate you btw
So will the OP's realtor. Now he or she has to go through all that work a second time.
Posted on 7/11/14 at 1:50 pm to sneakytiger
We had written a check with our original offer. Nothing has been cashed yet though and the verbal offer we agreed to Wednesday night hadn't had any paperwork done in regards to it at all
Posted on 7/11/14 at 1:52 pm to Mizzoufan26
They shouldn't have cashed anything yet. The problem is that the seller's like to hold this over your head as a threat. Ask for it back and consult with your realtor or attorney if they refuse.
Posted on 7/11/14 at 1:53 pm to Mizzoufan26
I'd put a stop payment on that check right now
Posted on 7/11/14 at 1:53 pm to AnonymousTiger
It was never going to leave our realtors office. Our realtor was to hold the check for the duration
Posted on 7/11/14 at 1:54 pm to Mizzoufan26
You should be fine then.
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