Withdrawing an offer on a property

phuket

Hi

I have today made a verbal offer on a property (in England) which has been accepted by the vendor.

Although I thought about it carefully I now think I have made the wrong decision, can I easily withdraw my offer and pull out?

I made the offer on the phone and forget to explicitly state that the offer is subject to the usual survey and contract. Is this is a problem? I haven't put anything in writing myself but the agent has said he is sending me a written copy of my offer.

Help!

ognum

Just phone and say you have had a change of heart!

Going4TheDream

You can withdraw it, until you exchange contracts you are under no legal/financial obligation.

Perhaps expect some hassle from the EA asking why and trying to change your mind, and out of courtesy to the vendor I would let the EA know asap

Sponge

Sleep on it? It could be you're just having a momentary 'wobble' at the thought of having an offer accepted.

As the others have said, there's no reason why you can't call them up and withdraw the offer tomorrow. Be honest and it shouldn't cause a problem.

Yorkie1

Are you just concerned at not saying those particular words, or do you no longer want to proceed with the property?

If the first, then don't worry - double check the written offer when it comes through the post and you can always clarify it at that point.

If the second, then sleep on it and if you do want to definitely withdraw then just ring the EA as soon as you can.

phuket

Thanks all for your replies. Having slept on it I still don't feel any better about my decision so think I will be calling the agent first thing on Monday.