A “Sample Letter To Withdraw Offer On House” is a written notice. It cancels your offer on a property. You send it to the seller. Maybe you found issues during inspection. Perhaps your financing fell through. Life happens, and sometimes you must back out.
This article is here to help. We understand this can be stressful. That’s why we’ve compiled some samples. These templates can guide you.
We aim to simplify this process. We provide clear, easy-to-adapt examples. Use our resources to write your own withdrawal letter. Get it right the first time!
Sample Letter To Withdraw Offer On House
[Your Name]
[Your Address]
[Your Phone Number]
[Your Email Address]
[Date]
[Seller’s Name]
[Seller’s Address]
RE: Withdrawal of Offer to Purchase Property Located at [Property Address]
Dear [Seller’s Name],
Please accept this letter as formal notification that I am withdrawing my offer to purchase the property located at [Property Address], which was submitted on [Date of Offer].
I am withdrawing the offer due to [ Briefly state reason for withdrawing, e.g., unexpected financial circumstances, unsatisfactory home inspection results, etc.].
As my offer is now withdrawn, I respectfully request the immediate return of my earnest money deposit in the amount of [Dollar Amount]. Please send the refund to [Your Address].
I apologize for any inconvenience this may cause.
Sincerely,
[Your Signature]
How to Write Sample Letter To Withdraw Offer On House
Subject Line: Clarity is Paramount
The subject line should be concise and unequivocal. It’s your opening gambit, setting the stage for the missive within.
- Keep it brief: “Withdrawal of Offer – [Property Address]”
- Be explicit: “Offer Withdrawal – [Your Name] – [Property Address]”
- Avoid ambiguity; directness is your ally here.
Salutation: A Formal Overture
While you’re retracting an offer, civility remains crucial. Begin with a respectful greeting.
- Address it to the seller or their agent.
- Use “Dear [Seller Name or Agent Name],” – formality matters.
- If the name is unknown, a professional “To Whom It May Concern:” will suffice.
Body: The Nucleus of Your Recantation
This is where you articulate your decision. Be forthright, yet measured. Avoid prolix explanations; keep it succinct.
- Clearly state your intent: “This letter serves as formal notification that I am withdrawing my offer to purchase the property located at [Property Address].”
- Reference the offer date: “My offer was submitted on [Date of Offer].”
- Briefly explain (optional): A concise reason may be included, but it’s not obligatory. For example: “Due to unforeseen circumstances…”
Contingencies: Safeguarding Your Interests
If your offer was contingent on certain conditions, explicitly mention their non-fulfillment. This fortifies your position.
- Specify the unmet contingency: “My offer was contingent upon a satisfactory home inspection, which did not meet my requirements.”
- Refer to financing: “The offer was also contingent on securing financing, which I have been unable to obtain.”
- Emphasize release from obligations: “Therefore, I am released from any further obligations outlined in the purchase agreement.”
Earnest Money: Reclaiming Your Deposit
Address the return of your earnest money deposit. This is a pivotal aspect of the withdrawal.
- Request its return: “I request the prompt return of my earnest money deposit in the amount of [Dollar Amount].”
- Specify method (optional): Indicate your preferred method for receiving the funds (e.g., check, wire transfer).
- Provide relevant details: Include your mailing address if a check is preferred.
Closing: A Gracious Farewell
End with a polite closing. Maintain decorum, even in withdrawal.
- Use a professional closing: “Sincerely,” or “Respectfully,”
- Leave the door slightly ajar (optional): “I appreciate your time and consideration.” (Use sparingly, only if genuinely meant).
- Sign your name clearly.
Delivery: Ensuring Receipt
How you deliver the letter is as important as its content. Ensure verifiable receipt.
- Certified Mail: Send via certified mail with return receipt requested. This provides proof of delivery.
- Email (with confirmation): Send a copy via email and request a read receipt.
- Keep Copies: Retain copies of the letter and all related correspondence for your records.
Frequently Asked Questions: Withdrawing a House Offer
Navigating the complexities of real estate transactions can be challenging, especially when circumstances require withdrawing an offer on a house. This FAQ section provides answers to common questions regarding the process.
What are the common reasons for withdrawing a house offer?
Common reasons include unsatisfactory home inspection results, inability to secure financing, or a significant change in personal circumstances.
Is it legally permissible to withdraw a house offer?
Generally, withdrawing an offer is permissible before it has been formally accepted by the seller. However, once accepted, withdrawing may have legal and financial consequences.
What potential financial repercussions could arise from withdrawing an accepted offer?
You may risk losing your earnest money deposit, and you could potentially be sued for breach of contract, depending on the terms of the purchase agreement.
What information should be included in a withdrawal letter?
The letter should clearly state your intention to withdraw the offer, reference the property address, specify the date of the original offer, and provide a brief, professional explanation for the withdrawal.
Should I consult with a real estate attorney before withdrawing an offer?
Consulting with a real estate attorney is highly recommended to understand the legal implications and potential risks associated with withdrawing an offer, especially after it has been accepted.
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