Home Selling in Hopkinton>Question Details

Steve, Home Seller in Houston County, TX

I resently put my house up for sale. Our agent found a buyer and we began the preliminary paperwork by initialing the contract. The inspection is due

Asked by Steve, Houston County, TX Sat Mar 20, 2010

in about a week but my husband and i\I decided not to sell for reasons not mentioned. Are we obligated to go through with the sale of the home?

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5
Steve:

Great advice below and definitely get a good attorney. Technically the buyer could potentially take you to court and force a sale as Massachusetts is a dual contract state. Now if you reason with the buyers broker and have legitimate excuse they may be willing to let you out of the deal. Best in your situation.
0 votes Thank Flag Link Mon Mar 22, 2010
I am a Realtor and an Attorney licensed for both only in OH, so I don't represent you and my comments are only my personal opinions. I have been able, as a Buyer's Agent, to negotiate my way out of a solid contract, because of a horrible event in my Buyer's life. You need to have cause beyond "reasons not mentioned." I suggest you retain an Attorney who handles residential real estate matters ASAP.
0 votes Thank Flag Link Sat Mar 20, 2010
They could also possibly tender the deed but with only a small deposit the legal fees wouldn't be worth it.
Web Reference: http://www.mdmrealtyinc.com
0 votes Thank Flag Link Sat Mar 20, 2010
Alot would depend on the language of the contract or offer to purchase and the state you are dealing with. Local, state laws differ greatly on language. Whenever there is a question of law or legalities you should always consult with an experienced attorney to make sure you make the most educated choices. Talk to your agent if they are your listing agent and you're not selling the home yourself to ask what your options are with their contract but you'll absolutely need the advice of an attorney to proceed safely.

Hope that helps,
Web Reference: http://www.MedfordHouse.com
0 votes Thank Flag Link Sat Mar 20, 2010
Are you in contract and is the contract executed, signed by all parties and was deposit money exchanged--if so review the contract and see exactly what it states as to your options for backing out, or consult with an attorney who specializes in real estate--do make your agent aware sooner rather than later about the change of mind--
0 votes Thank Flag Link Sat Mar 20, 2010
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