I am interested in one of two properties that are FSBO. If I I make a
low-ball offer on both places, am i legally required to purchase both
in the unlikely event both accept my offer? How should I word my
offer so I can back out in case of this unlikely event? I know when
you buy through realtor, the seller is required to get back to you
within 24 hours. But I dont think there are any rules when FSBO.
You should build some "outs" into any contract to protect yourself. Ex:
"This contract is subject to the written consent of buyers financial
partner within 14 days" Your financial partner is anyone - bank,
investor, wife, mother, etc.
<> wrote in message
news:
>I am interested in one of two properties that are FSBO. If I I make a
> low-ball offer on both places, am i legally required to purchase both
> in the unlikely event both accept my offer? How should I word my
> offer so I can back out in case of this unlikely event? I know when
> you buy through realtor, the seller is required to get back to you
> within 24 hours. But I dont think there are any rules when FSBO.
Making an offer conditional on inspection is vague and can get you out of
most anything.
Also any good lawyer can get you out for $100-200 if necessary. Make
sure you write in a "Lawyer Review Period" addendum
"Manga27" <> wrote in message
news:
> Also any good lawyer can get you out for $100-200 if necessary. Make
> sure you write in a "Lawyer Review Period" addendum
Another thing you can sneak in sometimes is to make the offer conditional on
getting financing at a certain rate. Of course, the more conditions like
this, the less likely the offer will be accepted in the first place, but I
think the OP was talking about low ball offers, and the chances of these
being accepted are never too good anyway.
<> wrote in message
news:
> I am interested in one of two properties that are FSBO. If I I make a
> low-ball offer on both places, am i legally required to purchase both
> in the unlikely event both accept my offer? How should I word my
> offer so I can back out in case of this unlikely event? I know when
> you buy through realtor, the seller is required to get back to you
> within 24 hours. But I dont think there are any rules when FSBO.
>
I have yet to have two low-ball offers accepted at the same time. Not
really something you need to worry about :)
If it does happen, consider yourself a very lucky person! Buy both, keep
one, and sell the other. Of course, this is assuming low-ball is really
low-ball.
wrote:
> How should I word my
> offer so I can back out in case of this unlikely event?
How about put in a condition that you do not have any other offers
accepted? Or you can put a 24 hour limit and wait 24 hrs to make the
second offer.
> I know when
> you buy through realtor, the seller is required to get back to you
> within 24 hours.
I have never heard of this. Usually, there is a line where you put how
long your offer is valid for. If you put 5 days, the seller doesn't
have to get back to you for 5 days.
> But I dont think there are any rules when FSBO.
I don't see why you can't add a 24 hour condition to your offer.