I made an offer to purchase off market residental RE. It was accepted by the seller. During the due diligence period I got an idea that probably my price was too high and I should offer a smaller one. Is there any legal way to cut agreed offer price, e.g. to conclude a supplementary agreement…?
Please let me know if you have ever been in the same situation? How have you dealt with that?
I like the property and I don’t want to lose that deal so if there isn’t any legal possibility to cut agreed offer price I wouldn’t contact the seller regarding the price decrease.
Any advice or suggestions will be much appreciated and welcomed.
We have no idea what your contract says....but assuming you have an inspection clause, use that to cancel/renegotiate.
yup... if you had your days in the contract.... you can say anything... excess damage, deferred maintenance, whatever you want... get him or her back to the table and renegotiate.
Thank you for taking the time to help me.