| Name:
ebby
Title of Question:
Withdrawing an offer to buy |
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Question: We accepted the seller's counter-offer to buy a house and sent the contract back to his office. We agreed to pay a $50/day fine if we don't close by Oct. 14th. The seller has not responded to our realtor's repeated attempts to contact him and now 13 days have passed and we have heard nothing. At this point, we are very uncomfortable (thinking the seller may accept at the last minute and expect us to close) and would like to withdraw the acceptance of our counter-offer. Can we do this? |
Post Your Answer To The Question Above:
Name:
Stephen
| Date: October 8, 2004, 5:01 pm
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| Answer:
Your Agent should have ensured that you received the accepted counter-offer back within the irrevocable time of the original offer. The irrevocable time & date provides for a limit to the negotiations so parties will act. My guess is that the counter-offer was not accepted and the Agent has been negligent one way or another. You should formally advise the Seller and the Agent by letter that because the acceptance was never communicated back to you within the prescribed time period, your offer was officially withdrawn as provided for in the offer. |
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