agreement to purchase property via email
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agreement to purchase property via email
Buyer offered 315k. I agreed but
added as is stipulation. 3 days and
have not heard back. Another offer
has come in. Am I legally at risk if I
accept the new offer?
Asked on July 15, 2018 under Real Estate Law, Florida
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
By adding in an "as is" stipulation, you rejected the initial offer and put a new offer out there. IF you cancel or withdraw that offer before it is accepted, you can safely take a different offer. So you first have to send the first would-be buyer a written communication (which you should send some way or ways that you can delivery) that because they have not responded in three (or more, if at the point you send them the communication, it's been longer), you are withdrawing your counteroffer. Once you have done that, you can safely accept the other offer. Otherwise, if you don't formally withdraw your offer, the first buyer can accept it even if you have accepted the second buyer's offer.
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