Getting out of a offer contract

[Xavier Garcia]

If I put in an offer on a house and change my mind, how can I get out of that contract? Say for instance I put in an offer on a home with plans to flip or wholesale a place and I cannot find a buyer or my financing falls through, how do I get around being stuck with the property?

[Josh C.]

You shouldn't make offers with no clue how you will actually close on them. Tying up someone's house for a month hurts the seller. Also, most brokers will ask for proof of funds to close before making a bunch of low offers for you. Bird dogging might be a good place to start.