Profile picture for Marilynkaye

If I have an accepted offer with a closing date can someone purchase the home from under me?

I have my home for sale.  I put an offer to purchase that was accepted subject to my selling my home but do have a closing date.  Can someone purchase this from under me without notivications?
  • June 08 2014 - US
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Answers (4)

As noted below, we don't know what your contract says, therefore you need to read it, or,  better yet, ask your agent to clarify this for you.

If you were given a home sale contingency more than likely the sellers reserved the right to try and find another buyer while you were trying to sell your home.

"Right of first refusal" might be a term that applies.......meaning, as Wetdawgs mentioned, if another offer were made, you'd be given notification and a short period of time in which you'd either remove your contingency, and proceed with the sale or cancel the deal .

But, this is like the movie Ground Hog Day - it all goes back to the beginning......read your contract!

  • June 08 2014
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Please ask your agent to explain the contingency form to you, Marilyn.

  • June 08 2014
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Profile picture for wetdawgs
You would need to look at your contract carefully.  Usually a seller will insist on a section where if they get another offer you have 48 to 72 h to either move forward without the contingency of selling your home, or cancel the contract.   So, you would be notified.  

However, as we've not seen your contract we don't know what is in your contract.
  • June 08 2014
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I would have to see your contact, but I would not think so. Do you have an agent? Re-read your purchase contract very carefully. Have the agents involved talk if you are concerned and try to obtain some clarification.

Good luck.
  • June 08 2014
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