Legal Question in Real Estate Law in Michigan

Re: Bid on house

Assuming that you mean that you made an "offer" on a house, in order to determine what your options are, you need to look at the terms of the offer. I further assume that you did more than provide a verbal offer and probably put something in writing because according to the Statute of Frauds, contracts to purchase real property must be in writing. Generally speaking, with offers to purchase real property, there are contingencies which must be met. One such contingency is an inspection which meets the offeror's approval; another is formal loan approval. If any contingency is not met, then the offer can be withdrawn. If the offer is not in writing, then likewise, you cannot be held to the offer.

If you can provide further information, I can respond more specifically.

(Please do not rely on this communication which does not create an attorney-client relationship and which is intended merely as a discussion of legal principles and is not to be relied upon.)

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