can a seller opt out from a home purchase to sell to another party?

Answer 1

If a purchase agreement was signed it will be very difficult. You may be able to opt out but there should be a steep penalty to do so.

Answer 2

In my state--You would probably wind up in a law suite if you tried to pull that. Unless your current buyer breaches their responsibilities under their contract with you--you are obligated to perform your part--(sell the house to them). Even if the current buyer breached their responsibilities under contact (ex--not getting mortgage commitment in on time or failure to make deposits into escrow in a timely manner)- you would still need mutual release from the contract--both parties sign off that the deal is dead before you could legally sell it to some one else. Out of Curiosity--did a Realtor help you sell your home or did you sell it yourself?? Usually only FSBO gets less than full market value for their property.

Answer 3

May i ask how much more the other seller is offering? i Guss that is the price of your integrity.

If your are asking over a few bucks i do hope you pull out and the other guy loan falls throw and you get stuck with the home as the bubble breaks.

Answer 4

Very carefully!! There are enormous cost if you do so and things go wrong. The party in the first deal could sue you for any cost they suffer if you back out without legal reason. You should consult with a real estate attorney before proceeding.

Answer 5

Not without risking a law suite. Once they accept your offer they are stuck unless they negotiate a payment to you to let them sell it to another party. Contact your real estate attorney if you need help

Answer 6

Only within the grace period. After that, it's a legally binding contract with the exemption of a few situations like coersion.