Buyer Do or Due Diligence?

What happens when a buyer submits an offer then wants to rescind immediately?

What happens when a buyer submits an offer then wants to rescind immediately?



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Jeff Lunderstadt, ABR, SRES, e-Pro February 06, 2012 at 05:43 PM
I agree buyers should be aware of an area before they make an offer. They should also be intentional about making an offer because it is a contract. If on the other hand they get cold feet for whatever reason, they are free to leave the agreement of sale in PA under section 12 (b) 2 of the ASR (Agreement of Sale Residential) without cause or even sending over the inspection reports. They don’t even have to do the inspections. It just has to be within the 10 day inspection contingency period. I do not like this section of the agreement of sale. It was different a few years back, with an option that required the buyer to buy the home if issues were fixed professionally. Jeff Lunderstadt, Achieve Realty, ABR, SRES, e-Pro Jeff@PittsburghDreamHomes.com
David lee February 07, 2012 at 04:12 PM
There has never been a time that someone had to buy a house .. If you sign a contract to buy a house but never come to closing .. you will lose your hand money ..at the most be sued for the cost of your requested upgrades MAYBE . There has never been a time you had to buy anything ( unless you wanted the privelage to use state roads in your car ) untill OBAMACARE David McMullen abc, def,ghi , jkl, lmn .opq DavyLeeRacingMail@yahoo.com Ps Realetor commisions are Fully negotiable even with a contract right up untill the time you sit down at closing . correct ? I agree 100% BUYER BEWARE


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