A “Sample Letter To Withdraw Offer On House” is a formal way to back out of a home purchase. You’d use it if you’ve made an offer on a house. But now you need to cancel it. This often happens due to unforeseen issues. Think financing problems or a failed home inspection.
Need to write this kind of letter? Don’t worry. We’ve got you covered.
In this article, we’ll share ready-to-use samples. These templates will make writing your withdrawal letter easy. Use our examples to craft the perfect letter.
Sample Letter To Withdraw Offer On House
**Sample Letter To Withdraw Offer On House**
[Your Name]
[Your Address]
[Your City, State, Zip Code]
[Date]
[Seller’s Name]
[Seller’s Address]
[Seller’s City, State, Zip Code]
**Subject: Withdrawal of Offer to Purchase Property at [Property Address]**
Dear [Seller’s Name],
This letter serves 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 regret to inform you of this decision. [ Briefly state your reason for withdrawing the offer. Be concise and professional. For example: “This decision is due to unforeseen circumstances.” or “Upon further consideration, I have decided to pursue other options.”].
I apologize for any inconvenience this may cause. I wish you the best in finding a suitable buyer for your property.
Sincerely,
[Your Signature]
[Your Typed Name]
How to Write Letter To Withdraw Offer On House
Subject Line: Conciseness is Key
- Subject: Withdrawal of Offer – Property at [Property Address]
- Be direct. Ambiguity begets confusion, so make your intentions unequivocally clear.
Salutation: Maintaining Professional Demeanor
- Address the recipient formally: “Dear Mr./Ms. [Seller’s Last Name],”
- Even in retraction, courtesy prevails. Avoid overly familiar greetings.
First Paragraph: Expressing Regret and the Reason
- State your withdrawal: “I am writing to formally withdraw my offer to purchase the property located at [Property Address], submitted on [Date].”
- Briefly elucidate the reason: “This decision is rendered necessary due to unforeseen [financial/personal] circumstances.”
- Avoid extensive justifications; brevity is your ally here.
Second Paragraph: Referencing the Offer Details
- Reiterate Offer Details: “As per the offer, dated [Date], the proposed purchase price was [Dollar Amount].”
- Mention Key Contingencies (if applicable): “This offer was contingent upon [Home Inspection/Financing Approval], which unfortunately…”
- This paragraph solidifies the specific offer you are rescinding.
Third Paragraph: Acknowledging Earnest Money Deposit
- Address the Earnest Money: “I understand that I submitted an earnest money deposit of [Dollar Amount].”
- Request Return (if applicable and permitted): “I would appreciate it if arrangements could be made for the expedient return of this deposit.”
- Clarity regarding the disposition of the deposit is paramount.
Closing: Maintaining Amicability
- Offer Apology and Gratitude: “I regret any inconvenience this decision may cause. Thank you for your time and consideration.”
- Maintain Professionalism: “While I was initially very interested in the property, these supervening circumstances have compelled me to withdraw my offer.”
Signature: Formal Conclusion
- Use a formal closing: “Sincerely,” or “Respectfully,”
- Provide your full name and contact information (phone number and email address).
- Ensure your signature is easily readable if submitting a physical copy.
Frequently Asked Questions: Withdrawing a House Offer
Navigating the complexities of a real estate transaction can be challenging. This FAQ section addresses common questions about withdrawing an offer on a house, providing clarity on the process and potential implications.
What are the potential consequences of withdrawing an offer?
Withdrawing an offer may result in financial penalties, particularly if the offer has been accepted and is legally binding. You could lose your earnest money deposit or be subject to legal action by the seller.
When can I withdraw an offer without penalty?
You can typically withdraw an offer without penalty before it has been formally accepted by the seller. Additionally, contingencies within the offer (e.g., financing, inspection) may provide legal grounds for withdrawal if unmet.
What should be included in a withdrawal letter?
A withdrawal letter should clearly state your intention to withdraw the offer, identify the property in question, specify the date of the original offer, and include your signature. It is advisable to consult with a legal professional for assistance.
How should I deliver the withdrawal letter?
The withdrawal letter should be delivered in a manner that provides proof of receipt, such as certified mail with return receipt requested or via electronic delivery with confirmation. This ensures the seller is formally notified.
Should I consult with a real estate attorney before withdrawing an offer?
It is highly recommended to consult with a real estate attorney before withdrawing an offer. An attorney can review the offer, advise on potential legal ramifications, and ensure the withdrawal is handled correctly.