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Yes, Backsies!

The Seller wanted to know if he could “undo” the deal with the buyer. I said that there was nothing to actually undo, as the contract had gone out weeks before, with two different disclaimers.

 

In the cover letter, it stated, “Inasmuch as the Contract faxed to you has neither been read, nor approved of, by my client, same shall not be considered an offer to sell.”

 

The contract itself had an “out clause,” as well:  “This contract shall not be considered an offer or an acceptance of an offer by Seller, and shall not be binding upon Seller until executed…”

 

Thus, I advised the seller, he is not bound to the deal, and could certainly move on (though there might be an issue with the real estate agent who'll claim she “sold” the house to the uncommunicative buyers).

 

“Whew,” said the seller, who then used a phrase I haven’t heard since I was 10 and trading baseball cards. “I was afraid that once you sent out the contract, there was no backsies.”

 

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