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pjwalsh65, Home Seller in Ohio

Are we contractually bound to sell?

Asked by pjwalsh65, Ohio Tue Nov 20, 2012

The appraisal for our house came in under the asking price. The buyers wanted us to come down on our asking price. We would not. They have now agreed to pay the original contract price, even though I informed the agent (who is representing both parties) that we were no longer interested in selling. I did not get a cancellation in writing. Are we still contractually bound to sell?

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YES, if the Contract has not expired, I would opine that you are legally and morally obligated to sell.
Were you not committed?
0 votes Thank Flag Link Tue Nov 20, 2012
Did the contract expire? Was there anything ever "official" that said they wanted you to come down to the appraised price? If not, and the contract has not expired, you may still have an enforceable contract. I would say "ask your agent" but since you have a dual agent that would fruitless. Consult an attorney. I am NOT an attorney and this is NOT legal advice.
0 votes Thank Flag Link Tue Nov 20, 2012
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