Can we back out of an offer ?

JuicyJossy

Hi.

We have got our agreement in principle and we have found a house that we like for an amazing price and we would really like to put an offer in on the house before it gets snapped up by someone else.

However, there is a possibility that my partner may be getting a job abroad, if this is the case then we would not be able to buy the house. We should know for sure within the next month or so as it's a big decision.

So my question is, if we put an offer in on this house and it gets accepted, would we be able to back out of the offer should my partner get this job abroad or would it be best for us to put off putting in an offer until we are 100% sure what we're going to do.

Thanks for any advice !

kingstreet

I would not offer until I was sure of my ability to meet my obligation.

If you agree to purchase, then pull out, you will have put others to considerable inconvenience and possibly cost.

holly_hobby

Legally, you can withdraw at any point upto exchange without penalty (although you may incur mortgage/solicitor costs) - morally as per Kingsteet's post, and for the benefit of all, I would really wait and see what the next mth brings

Holly x

JuicyJossy

Thanks for your help. We are just hesitant about waiting because it's the only one we've found in our price range that has everything we need. But I understand I have to think of the sellers aswell. Thanks.