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No Longer Interested; Rescind Your Offer
No Longer Interested; Rescind Your Offer
 
If you make an offer to purchase a property, but then change your mind and decide that you no longer are interested in making the purchase, before the offer is accepted, then rescind your offer.
 
Here is an example.  The numbers have been changed so that the guilty are not exposed and so that the innocent are protected.
 
I have a house listed for $150,000.  The Seller will take less and, in fact, an offer comes in that he is willing to take at $125,000.  However, before accepting it, he decides that he would like to see if he can get the Buyer to come up in price so he says that he would consider it at $140,000.
 
I send an email to the Buyer's Agent stating that the Seller will consider the Buyer's offer if the price is changed to $140,000.
 
A key point here is the use of the word "consider".  If the Seller had sent back a "counteroffer", then it could be stated that the original offer was terminated once the counteroffer was made.  In this case, the Seller is stating that the original offer would be considered if the price were changed.  This may be a ... more

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