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 (4 comments)