Can I change my mind now about selling or is it too late? What would be the ramifications of deciding not to sell now?
2006-11-08 07:33:28 · 9 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
The buyer CAN sue for performance.
You really messed up!
Good Luck! You are gonna need it!!! Maybe something will happen along the way and the buyer will not want it.
Here's a tip: Depending on your state, if termites are a problem then if you can get them to get a termite inspection then the results have to be reported to the state and if it is deemed necessary that repairs are made before the buyer can get financing and you refuse to pay for repairs then you may just get yourself out of this deal. But note that once the inspection is done the results are kept on file so when you want to refi or sell the repairs will have to be made.
Oh, and this wasn't a nice thing that you just did to your agent. You probably signed something with them that stated that if you did this then they would still be due a commission. At this point it might not be worth it to not sell. Change is good.
2006-11-08 08:16:43 · answer #1 · answered by bluzmelody 2 · 0⤊ 0⤋
Hopefully the realtor just made a mistake. Ask for the money back politely and if they do not respond go to the managing broker and complain. This is entirely unethical and they could lose their license for this. Your realtor should be making a BIG stink over this one. Get him busy. Definitely not kosher. Make some waves. The check is only deposited if you have a signed deal. Get Busy. There is no 'only 500 dollars'. The sellers agent is totally out of bounds. Stealing? Get some action!!!!
2016-05-21 22:28:57 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It will vary from state to state depending on that states laws. Basically, a signed contract to sell your house is just that - a signed contract and may be subject to the contract laws of your state. Your realtor may still require you to pay the commission due since they did bring you a ready, willing, and able buyer. The buyer may also sue you to perform your contractual obligations. Always remember never to sign any contracts unless you are serious about executing the terms of the contract. I would recommend talking with an attorney regarding your options. All other advise is subject to being wrong.
Check for any contingencies that may cause the contract to become void. For example, if the buyer requests any repairs or alterations due to an inspection contingency, you can refuse to do these repairs and maybe the buyer will walk.
2006-11-08 07:51:28 · answer #3 · answered by ThePerfectStranger 6 · 0⤊ 0⤋
If you signed the contract and the buyer did as well, and you accepted earnest money your one hope is that the buyer can not get financing, if he can you sold your house and if you do not perform the buyer can sue you.
of course with all the inspections they do now if some thing does not pass the buyer may not want it.but as long as the buyer performs you sold your house.I sold real Estate for 12 years and in Ohio that's the law.
2006-11-08 07:48:40 · answer #4 · answered by sandyjean 4 · 1⤊ 0⤋
Dont let anybody fool you- those contracts are as worthless as the paper they are written on especially on CA. It happens every day that buyers and sellers back out. To use the resources to sue you for breach would be more hassle that its worth. Be honest with the buyer hopefully they will understand. They would want you to understand if they had cold feet. You did sign a contract and it would be appropriate of you to honor it but things come up, just try to be honest with them. Good luck!
2006-11-08 09:27:09 · answer #5 · answered by JAMIE M 2 · 0⤊ 0⤋
It seems from your wording that you haven't signed the contract. If you haven't, you can probably back out (it may vary state-by-state, but I doubt it), but there's a good chance you'll have to pay your broker.
Best advice when dealing with contracts and other parties - call a lawyer. An answer to this won't take very long and will be worth every penny.
2006-11-08 08:37:54 · answer #6 · answered by bigpuppax 2 · 0⤊ 0⤋
Your Realtor probably has the right to demand payment .
Your buyer probably has the right to sue for specific performance.
They'll probably both understand if you don't want to move after all and just drop the whole thing.
2006-11-08 09:28:29 · answer #7 · answered by teran_realtor 7 · 0⤊ 0⤋
Read your contract. It varies by state and what you've agreed to is spelled out there. You should also call your agent and ask her directly. That's why you're paying her a commission.
2006-11-08 09:04:22 · answer #8 · answered by Opie 2 · 0⤊ 0⤋
It's your house, you can back out on sale anytime, you will have to repay any money the buyer has given.
2006-11-08 07:43:12 · answer #9 · answered by nbr660 6 · 0⤊ 3⤋