Fernanda, Home Seller in West Jefferson, NC

I don't want to sell my house anymore,and the sign for contract will be tomorrow ,what should I do? Do I have any penalties for canceling?

Asked by Fernanda, West Jefferson, NC Tue Jun 7, 2011

Help the community by answering this question:


Hi Fernanda!

I would recommend you seek legal ramifications of breaking your end of the contract from an attorney.

Best of luck!
0 votes Thank Flag Link Fri Oct 26, 2012
If you have signed the contract stating that you have accepted the buyers offer then you are typically condsidered under contract. If you really do not want to sell your home you need to contact your agent immediately and explain to him/or her why you don't want to sell. You may also need to speak with the agent's Broker. It is essential that you contact your agent so that he/she can get in touch with the buyer's agent as soon as possible. If the buyers have already paid for inspections, an appraisal or loan application fees you may be responsible for reimbursing the buyer for these expenses and you will need to refund their earnest money. The buyer will probably be more willing to let you out of the contract if they have not already paid out a lot of money. If the agent and broker are not able to help you get out of the contract you will need to speak with a real estate attorney. If you were selling your home without an agent you need to get a real estate attorney to help you.
0 votes Thank Flag Link Wed Jun 8, 2011
If you accepted an offer things may be more complicated. A contract is a promise to act and complete a transaction. There are often many ways out for a buyer, but it's generally assumed if the seller signs, they want to sell.
Start with your agent and go over your reasons. They may be aware of escape options available to you from within the contract. If they are not helpful, you may want to have your contract looked over by an attorney to see what options you have to cancel it.
If the agent involved represents the buyer and not you, get an attorney.
0 votes Thank Flag Link Tue Jun 7, 2011
You may need to talk to an attorney. If you already have a contract undr your house and you are very close to the settlement date, then you may not be able to get out of the contract and if you do, you I'll most certainly have to pay some damages to the buyer.
0 votes Thank Flag Link Tue Jun 7, 2011
Thank you for the answer, The only thing I signed so far was the acceptance of the offer that the buyer made.
0 votes Thank Flag Link Tue Jun 7, 2011
Consult with your agent right away, he/she can best advise; if there is no written and signed agreement in place you can back out.....
0 votes Thank Flag Link Tue Jun 7, 2011
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