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What’s the best way for your client to withdraw an offer?

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Professionally dressed man ripping a contract in two

02/05/2014 | Author: Editorial Staff

My client has submitted an offer to purchase a home. We have not heard from the seller or his agent regarding the offer. My client has now found another home that he likes better and wants to withdraw the first offer. Does the Texas Association of REALTORS® have a form that we can use to withdraw an offer?

No, the Texas Association of REALTORS® does not have that kind of form. Since your client wants to withdraw his offer before the seller has accepted it, a prompt communication of that withdrawal is essential. Call the listing agent and tell her about your client’s decision to withdraw his offer. Follow the telephone call with a fax, letter, or email confirming your telephone notification of the time and date of your client’s withdrawal of his offer. This kind of written confirmation of the verbal withdrawal of the offer can help document the timeliness of the withdrawal should an issue develop concerning the seller’s possible argument that he had already accepted the offer.

It should be noted that this same procedure could be used by a listing agent where the seller wants to withdraw a counteroffer made to a buyer so that he can sell the property to another buyer.

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Categories: Legal
Tags: legal, legal faq, selling, buying, contracts, forms, negotiation