Special offer

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Ambassador
2,178,433
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

An "offer" should not be confused with a "fully executed contract".   An "offer" can be withdrawn any time before it is fully executed... for any reason.    

Dec 05, 2016 10:06 AM
Rainmaker
2,362,579
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Carol Williams is so smart - but be sure to document the withdrawal - I wouldn't rely on a verbal communication

Dec 05, 2016 10:08 AM
Rainmaker
5,005,333
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Love it! Carol Williams you nailed it. Have to distinguish between the offer and a contract..big difference.

Dec 05, 2016 05:59 PM
Rainmaker
711,752
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

An offer which is not ratified can expire, can be rejected or withdrawn. A "deal" may have many outs based on how the contract is written.

Dec 05, 2016 04:57 PM
Ambassador
3,344,906
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

In writing is best practice.  What more can be said  -  Carol Williams  has this one.

Dec 05, 2016 03:00 PM
Rainmaker
5,772,575
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Abby,

Both Carol Williams and Lise Howe gave you the answers.  All the best to you.  A

Dec 05, 2016 01:38 PM
Rainmaker
4,319,419
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

abby tiscareno well, Carol Williams has an excellent answer.

Dec 06, 2016 01:41 PM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Carol Williams nailed this one!

Dec 06, 2016 03:36 AM
Rainmaker
2,224,473
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

You need to know what is in your state contract and your state rules and regs to know what can terminate a contract. If you are a student...I recommend you know your state contract inside and out. 

Dec 05, 2016 09:59 PM
Ambassador
5,229,222
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

At any time the buyer wants to communicate the termination before a Contract is executed.

Dec 05, 2016 04:54 PM
Rainmaker
7,834,945
Roy Kelley
Retired - Gaithersburg, MD

Follow the terms of the contract.

Dec 05, 2016 03:43 PM
Ambassador
5,048,708
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

It should be in writing, not verbal.

Dec 05, 2016 12:47 PM
Rainmaker
1,466,207
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

abby tiscareno An offer can be terminated anytime prior to acceptance. Once accepted it can only be terminated if the offer is contingent and an agreement cannot be met between the parties. Finally, if a real estate contract is fully executed, the purchaser owns the property and should seek legal counsel.

Dec 05, 2016 12:11 PM
Rainmaker
2,781,013
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Contingencies and conditions not met for one of many many more

Dec 05, 2016 11:54 AM
Rainmaker
900,008
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

One way is when a seller does not respond in time. It's important to place dates on documents.

Dec 05, 2016 11:43 AM
Rainmaker
1,712,676
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

By legal means on a state by state basis depending on the contract law for that state and how state sanctioned contracts are created.

Dec 05, 2016 11:22 AM
Rainmaker
1,844,171
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

?? always has to be in writing.

Dec 05, 2016 10:45 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

In writing, before acceptance.  Or, after acceptance, by mutual consent or any of the stipulations that allow for termination from the contract.

Dec 05, 2016 10:19 AM
Ambassador
3,727,873
Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

It depends on what is included in the written agreement.  Assuming your talking a real estate agreement, in this jurisdiction the offer may be withdrawn by the purcyhaser at any time prior to its acceptance.

Dec 05, 2016 10:16 AM
Rainmaker
4,571,456
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

It can be accomplished in writing.   Also an offer can be terminated when the time frame for response has expired.   

Dec 05, 2016 10:14 AM
Rainmaker
634,482
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

Do it in writing (email is fine) so you have documentation. 

Dec 05, 2016 10:12 AM
Rainmaker
4,881,462
Richard Weeks
Dallas, TX
REALTOR®, Broker

In our market prior to being accepted an offer may be withdrawn by a phone call followed up with a written email.

Dec 05, 2016 10:05 AM
Rainmaker
5,868,372
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

The buyer has all the outs in Colorado.

Dec 07, 2016 11:49 AM
Rainmaker
1,617,916
Harry F. D'Elia III
WEDO Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

Great question for your broker

Dec 06, 2016 12:16 PM
Rainmaker
1,502,848
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

When this guy Terminates them:

Dec 06, 2016 10:11 AM
Rainmaker
5,583,278
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

there are many ways out with an initial offer to purchase, if it's written properly.... the purchase and sales agreement usually has conditions...once they're all satisfied, the outs are gone unless there's a title problem that take over 30 days to resolve....

Dec 06, 2016 09:58 AM
Rainmaker
4,935,551
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Inspection issues is always the biggest reason I think.

 

Dec 06, 2016 08:45 AM
Rainmaker
1,725,896
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

Thanks, Carol Williams 

Dec 06, 2016 06:58 AM
Rainmaker
3,988,007
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

An offer is terminated when it is withdrawn before acceptance.

Dec 06, 2016 06:43 AM
Rainmaker
5,215,388
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Rescind before acceptance!

Dec 06, 2016 06:05 AM
Rainmaker
4,434,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

An attorney should advice.

Dec 06, 2016 05:06 AM
Rainmaker
5,104,806
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Refer to the contract for options to terminate. If no contract, buyer can withdraw their offer prior to acceptance.

Dec 06, 2016 04:07 AM
Ambassador
6,392,889
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Any way you want as long as it has not bee accepted yet, but check with your state to be sure. Or check with a lawyer.

Dec 05, 2016 06:04 PM
Rainmaker
1,157,785
FN LN
Toronto, ON

It depends on the situation.

Dec 05, 2016 02:14 PM