Good information. I would also add that if you really want the home that is already in escrow, you should approach the seller asking if they would be willing to accept your backup offer. That way if the sale falls through you already have your offer waiting in the wings.
@livingincoronacalifo5844
Ай бұрын
Backup offers are a great idea, especially if you really love a home. Many times a problem comes up during escrow and this puts you first in line to step in. We've helped several people actually get a home this way!
@rcampbell4967
Ай бұрын
Except in California. A buyer can simply change their mind and they get their earnest money back. Last home I sold I sold 3 times; once to a family who backed out because there was a flood 50 years ago even though the Army Corps of Engineers designed a system, costings tens of millions, to ensure it would never flood again. The second time was an investor who couldn't raise the down payment and stalled for over a month. The third was the charm. Nothing wrong with the house.
@livingincoronacalifo5844
Ай бұрын
@@rcampbell4967 Yes, here in CA a buyer can back out, but only if they do it during their contingency period (which is typically within the first 17 days). But we do have a lot of rules here in California…it’s hard to keep up with them all!
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