Real estate can change in a second. And sometimes, after you’ve put an offer in on a house, you might need to withdraw that offer. But is it even possible?
Well, it depends on your specific situation and when you decide to withdraw the offer.
It’s easiest if you realize that you need to withdraw your offer early in the process. If your offer hasn’t been accepted in writing by the seller yet, your real estate agent can quickly let them know that the offer is no longer valid, and you’re good to go–offer withdrawn.
But if the seller has already accepted your offer and a signed purchase agreement exists between you and the seller, things get a little more complicated.
In this case, you would only be able to withdraw the offer if one of your contingencies comes up, like a bad inspection report or an appraisal gap. If you’ve just had a change of heart on the house, you’ll have to come to an agreement with the seller, since that’s not a valid contingency.
Of course, if you do need to withdraw an offer, your real estate agent will guide you through the process. However, it’s best to be 100% sure you want the house before you make an offer.