Real estate contract

[lsk]

What is the name of your state (only U.S. law)? If I signed a contract to buy a house yesterday can I cancel the contract today and not lose my escrow payment? Do I have up to tree days to cancel?
Missouri

 

[Gail in Georgia]

No; the so called Three Day Cooling Off period does not extend to real estate contracts:

The Cooling-Off Rule: When and How to Cancel a Sale

Gail

 

[Mass_Shyster]

You can retract the offer it it has not been accepted.

If you have an inspection contingency, you can almost always get out using that. All you need is the right inspector.

 

[justalayman]

You can retract the offer it it has not been accepted.
.

just had to repeat that.

Get on the phone NOW and contact your agent. If the offer has not been delivered, tell the agent to not present it. If it has been presented, as long as it has not been accepted, you have the right to rescind the offer. Tell your agent to get on the phone and rescind the offer NOW.

keep track of the time of your phone call. It could be critical.

If you wait and the offer is accepted, you then are basically stuck with it. There are other ways out if there are contingencies but why mess with that if you don't have to.

 

[lsk]

Ok the agent lied about the contract. It has been accepted. She did not tell me she was representing the seller and not me. Doesn't she have to have me sign a buyers agency?

 

[justalayman]

I would have to check your state. I know it is not a requirement in all states though.

 

[HomeGuru]

Ok the agent lied about the contract. It has been accepted. She did not tell me she was representing the seller and not me. Doesn't she have to have me sign a buyers agency?

**A: there should be other contingencies that allow you to terminate the contract.
And yes, there should have been a written agency disclosure that the agent should have had you sign.