If I made a contract on a house to buy it and the owner hasnt accepted yet legally can i retract my offer?

Question

If seller has not signed the contract am I still legally tied to this contract? PLEASE ONLY RESPOND IF YOU KNOW FOR A FACT NO GUESSES and references if possible.

Answer 1

Beyond such things. A contract can always be broken. Backing out is part of the game in any high money transaction. If your not comfortable with the decision...you better get your *** on the phone with the people doing the work and kill this proceedings. NOW! waiting for people on yahoo answers won't get it done. MOVE YOUR ***!

Answer 2

Yes, you can. First, call the Realtor.  But,  it is best to have written verification of this. Fax a memo where you say that you withdraw your offer.  Email copy of the same, receipt requested.  It also may be a good idea to stop payment on the check, if there is any question, and advise in your memo that there has been a stop payment placed on your deposit check.

Answer 3

Yes.  You should be able to do it verbally with an email follow up.  But if you're worried you should do it verbally and confirm the conversation by Certified Mail Return Receipt Requested.  No realtor in his right mind is going to challenge you.  If you rescind there is no basis for a contract.

Answer 4

Yes, you can rescind your offer if it's done before you're given notice of acceptance.  Send the email or fax now!!!!

Answer 5

Whether he accepts it or not, you have a 48 hour right to rescind the offer in the U.S. It's called the "Buyer's Remorse Clause".

If you want to withdraw your offer, do it NOW, before it's ratified. Rescind the offer in writing, not by phone. Send it by Fed Ex or other courier service, or send it Certified Mail/Return Receipt Requested (the least expensive option) through the post office.  

Answer 6

You can rescind any time prior to actual acceptance.  However, carefully read your contract to determine what forms of activity are considered 'actual acceptance'.  As an example, in my state, standard real estate contract forms allow acceptance by faxing, mailing, or personal delivery, and the contract MAY designate that your agent, as example, is allowed to accept.

Ignore Cheryl G.'s advice.  There is no such clause for real estate contracts.  Only for 'consumer purchases'.