Discussed: Is it Possible to Accept Another Offer if a Seller is Under Contract?

Discussed: Is it Possible to Accept Another Offer if a Seller is Under Contract?

Most people live with the misconception that a property seller cannot back off once under a contract. But that’s not the truth. At Detroit Cash For Homes, we have made cash offers to several homeowners who were under an agreement. 

Several sellers approached us when they already had a contract with buyers. As a leading Ferndale estate home buyer, we offered them desirable deals. However, the reasons why people step back from the agreement vary from individual to individual. 

For example, suppose you want to sell your house in Ferndale fast, but your potential buyer is delaying the process. In this case, you can accept an offer from another buyer to ensure a faster sale. So it is possible to obtain an offer when under a contract.  

When your prospective buyer is delaying the selling process or asking you to cover the cost of pricey repairs and renovations, choose Detroit Cash For Homes. We buy houses in Ferndale as-is without prior work and preparations. Common reasons why property sellers change their minds at the last minute 

We have helped sellers who pulled out of a sale at the last moment when everything seemed to be going well. Let us find out why this happens. 

  • Better deal – As a home seller, you are likely to go for a buyer that offers a higher price. All these efforts are made, from cleaning to repairs and renovations, only to grab a better deal from someone else. When they think another buyer can make a better cash offer, they turn off a contract. 
  • Low appraisal by the buyer – Another reason why sellers cancel the deal is because the buyer’s appraisal is too low. In addition to this, they are not ready to cover the difference. In this case, buyers ask property owners to reduce the price. But if a seller is not willing, they pull out from the agreement. 
  • Life-changing instances – There have been instances in which buyers backed out from a deal because of life-changing circumstances. Examples include job loss, sickness, or death, which can impact their finances. As a result, they do not have enough funds to continue the sale. Thus, they prefer to get help from estate buyers in Ferndale to ensure a hassle-free and fast sale. 
  • Failing to find a house – Homeowners also cancel the sale because they failed to find a new home. At Detroit Cash For Homes, we have assisted several people with this type of case. Since we do not move into the house ourselves, sellers can take their time to move out. 

In closing 

Do you want to cancel an agreement? If yes, make sure you do not sign the contract. If you do, the process may become a bit tricky. However, you can always back out if only the buyers’ signature is on the contract. 

If you are wondering “how to sell my house in Ferndale,” Detroit Cash For Homes is your best bet. We buy houses in any condition and close the deal within a week.