At what stage can the seller of a house NOT pull out of the sale.. I've being told they can pull out at anytime they like is this right even when contracts are signed (but they have to give back the deposit....
2007-10-31 04:26:09 · 5 answers · asked by Irish816 3 in Business & Finance ➔ Renting & Real Estate
That’s going to vary depending on your local real estate laws. Consult your agent and/or a real estate attorney.
2007-10-31 04:30:52 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Once a seller has accepted an offer he is bound to complete the sale. The buyer can sue for specific performance and force the seller to complete the sale.
I've done exactly that on two separate occasions. The first time the seller got smart when we slapped the lis pendens on his deed. The second one went to court and it cost him dearly as he was trying to sell to someone else for a lot more money. I wound up pocketing the profit he would have made on the other sale.
2007-10-31 12:01:54 · answer #2 · answered by Bostonian In MO 7 · 1⤊ 0⤋
They can not pull out any time they like, they have signed a legal and binding contract. The buyer can sue the seller for specific performance and force the sale.
2007-10-31 11:42:33 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Once you have a valid, signed contract, the seller can not pull out unless the buyer breaches the contract or if a condition of the contract isn't met. Talk to your Realtor. A real estate contract is binding and if either party breaches the contract, they lose the earnest money and can be sued for damages or specific performance.
2007-10-31 11:41:22 · answer #4 · answered by rdd1952 3 · 0⤊ 0⤋
You could sue them for specific performance and try and force the sale. You most likely will just get damages money.
2007-10-31 16:59:27 · answer #5 · answered by frankie b 5 · 0⤊ 0⤋