I want to make an offer on a property but I think there might be issues with the house. My husband is also not in town either and wants to see it. If we make an offer and find there are issues or if we simply don’t like it, can we back out?
- Greetings, It depends upon your California Residential Purchase Agreement that you use for your offer and how your Realtor fills it out. There are many contingencies that are part of the standard California Bureau of Real Estate Purchase Agreement that allows you as the buyer to cancel the agreement within a certain number of days from the contract acceptance (usually 17 days). Home Inspection, termite report, appraisal, Meagan's law data base, basically any due diligence you want to do and if you decide there is a material fact that causes you to not want the property, you as the buyer may cancel. However, unless your offer specifically has added to it 'offer contingent upon husbands viewing and acceptance of the property', your husband seeing the home when he is back in town would not be a reason for you to cancel. Hope that helps!
It doesn’t sound like you’re using an Realtor-They should know all the good stuff Delwyn mentions. I wouldn’t advise a client to make an offer without their spouse seeing it. Could you technically get out?…probably. But you may be putting your good faith money at risk. Wait for the hubby!!
- If you were to make an offer both you and hubby need to sign it (hubby could sign via the internet). If you were using a Realtor, the Purchase Contract has detailed paragraphs (particularly para. 12 and 14) outlining Buyer's rights and abilities to cancel and deposit to be returned to Buyer. Never go it alone without professional help on your side. Good luck.