I offered a bid for an ap’t and the seller accepted my bid. Am I committed to pay that price? Nothing was signed, the contract has not reached the hands of the lawyers, can I decide to change my offer?
A few words about why I would like to change my offer. The offer was in US Dollars, rather than in shekels. But now the price I will pay with the shekels I have in the bank has gone up and I will need to come up with more shekels because the US Dollar has gone up in value.
Although legally I can back down since nothing was signed, do I have an Halachik/moral obligation to live up to my bid and not change it??
AN accepted bid is not viewed as an agreement to sell or buy, rather an agreed upon price for a potential sale. Backing out at this point would be permissible.