Rescinding Your Offer is Acceptable- No Harm, No Penalties

Rescinding Your Offer is Acceptable- No Harm, No Penalties

“A recent real estate nightmare” -I want my check back- I made an offer on a home in Long Beach, CA.- and then learned talking to a neighbor later that day that a major crime (multiple- murder took place in the home) – Do I have a right to rescinded my offer and should I worry about my deposit money?  No. (It’s not your fault and you don’t have to live there.)If anyone tries to keep your deposit, I would seek legal advice.

First off,until you have a meeting of the minds and receive an accepted signed contract back, you do not have a contract, this should all be in writing.  If you rescinded your offer before you receive an accepted signed contract back from the seller, there is nothing binding.  However, I would make sure that your agent rescinds the offer by e-mail so that you have a paper trail; you want it to show a date/time stamp. Depending on the state, a seller does not have to disclose a crime or death that has taken place in their property. It is up to the buyer to do their “due diligence” to research a property for these types of concerns.


Be positive! It’s about a leap of faith, trusting faith, believing, acting and making it happen!



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