To Pull out or not to Pull out – that is the question. This question may have hit you in other parts of your life too 🙂 – but today, we have discussed this as part of our Santa Clarita real estate radio podcast. How much time do you have when wanting to cancel your buying of a specific home, after you are already in contract?
Depends – Depends on the terms that have been agreed to by you. This happens in the beginning via the offer your real estate professional wrote and the counter that was received, if there was one, from the seller’s agent. Because the Seller’s Agent is on the Sellers Side 100%, it is beneficial for you to have your own agent that is 100% on your side. read more about using Listing Agents to buy the home you want
Most contracts accept 17 days as being the standard time frame for inspections, appraisals, and other investigations on the buyer’s side. That can be shrunk and expanded, depending on buyers and sellers needs.
While in that period, a buyer needs to get their inspections done. They need to look at the results of their inspection and make a decision whether or not they want to continue with the purchase of the home, condo or town-home. If they decide to back out during that period of time, in writing is the most “honoring” way to do so. You never know when something might come back around and we don’t want any “bad blood”. In writing will also let all parties know that the Buyers want their deposit refunded back to them in Total!!!
Listen to more about contingencies and time frames in the Santa Clarita real estate podcast above. Also – make sure your real estate agent is explaining time frames to you and yours before looking at home number one. Most agents have a Crash Course on Real Estate or a buyers briefing. click here for our Real Estate crash course
Thanks for tuning into our Santa Clarita real estate daily Radio Podcast. Please subscribe to our Bi-Monthly news updates below. Just type in your email address and you will be placed on our “good” list. Hey, and Christmas is coming up and you want to be on the “good list”.