Can I Back Out of My Offer in Florida?

Save 2% When You Buy: https://www.hauseit.com/buyer-closing-credit/

In this tutorial video we'll talk about the offer submission and negotiation process in Florida, how the standard Florida Realtor contract is used, and whether home buyers can back out of offers they submit to sellers and seller's agents.

Remember that in Florida, offers are submitted via a signed copy of the standard Florida Realtor contract. Therefore, sellers can counter-sign the contract at any point.

However, there is boilerplate language in the contract which governs cancellation. For example, there is an expiration date clause which says at which date the offer will automatically expire, if not fully executed.

Furthermore, there is an inspection period built into the contract (typically 15 days if left blank), where the buyer can back out for essentially any reason.

Additionally, because buyers often don't submit any contract deposit with the offer submission (often only 3 days later via an initial contract deposit, if any) it can be frictionless to cancel within the first few days after the contract has been counter-signed, primarily because the buyer doesn't even need to ask the escrow agent for any money to be returned.

Save 6% When You Sell: https://www.hauseit.com/agent-assisted-fsbo/
.
.
Hauseit Group LLC, Licensed Real Estate Broker
Tel: (888) 494-8258 | https://www.hauseit.com
_
#hauseit #hauseitmiami #hauseitflorida