Easily Replace Amount Field from the Offer To Purchase Real Estate

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How to Replace Amount Field from the Offer To Purchase Real Estate

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hi its tip tuesday and todays topic of discussion is contingency on finding a replacement property so what does that mean well a lot of people that currently own a home have to sell that home before they can purchase another and thats what were going to discuss today so one of the main reasons why youd want to do this is you want to sell your house and take that equity to use as a down payment on a purchase or you dont want to have two mortgages that youre paying at the same time um or you dont qualify for two mortgages at the same time so you have to sell in order to buy something and then lastly you dont want to keep the house and rent it out youd rather just sell it and buy something else right and theres a lot of fear that goes along with this we hear it quite often um and i think the biggest fear is being homeless like selling your house and then having no place to go so were going to discuss briefly on how you can accomplish that so in the california real estate purch

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Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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Can a seller back out of an accepted offer for a higher offer?

Real estate contracts are legally binding, so sellers cant back out just because they received a better offer. The main exception is when the contract includes a contingency that allows the seller to terminate the sale.

Can a seller counter offer for more than asking price?

The home seller may counter with a higher price than the buyers original offer, but lower than the original asking price. If the buyer thinks the price is still high, they could counter it. Lets take a look at our previous example, only this time, youre the buyer.

What happens if a seller changes their mind?

If a seller changes their mind, they may use an unfulfilled contingency or cancelation clause written into the contract to back out of a contract. However, if no such legal loopholes exist and the seller cancels, you might be able to collect monetary damages from them.

What happens to an initial offer from the buyer after a seller counters?

What happens to an initial offer from the buyer after a seller counters? Its no longer in play. Which offer would be the most appealing to a seller? It depends on the sellers needs and motivations.

Can a seller reject an offer after accepting?

Yes. A seller can back out of an accepted offer or before closing, as long as there are no specific clauses that state otherwise. That being said, whether or not a seller can back out of a contingent offer depends on the contract that was written and what is mentioned in it.

Can a seller accept an offer then change their mind?

As a seller, you can always change your mind after accepting an offer on a house, but unfortunately changing your mind doesnt guarantee youll be able to back out of the agreement especially if a house purchasing agreement is in place.

Can I make an offer less than asking price?

As a home buyer, you have every right to offer less than the asking price if you feel its too high. On the other hand, the seller has every right to reject your offer, if they feel its too low. So be sure to do your homework and tread carefully.

Can seller sell to someone else after accepting offer?

Until the listing becomes in contract, the seller can do a deal with someone else even if he had an offer accepted.

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