Dorothymadden, Home Seller in Holly Lake Ranch, TX

I signed a contract to sell my home on 4-11-10 and called that evening to cancel the contract. My realtor said the buyers would not release me from

Asked by Dorothymadden, Holly Lake Ranch, TX Tue Apr 13, 2010

the contract. Is there a way I can get me out of this sale of my home.

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Answers

8
In the State of Texas, the Seller can back out of the contract right up to being at the closing table. Check with your Attorney.

Pat Russell
Realtor
United Country
Gilmer, Tx. pat_can_sell@live.com
0 votes Thank Flag Link Sat Apr 17, 2010
Dorothy:
All of these responses are good and helpful.
You need to contact a real estate attorney immediately. That is really the only person who can give you the advice you need.
Regards,
Liz
0 votes Thank Flag Link Thu Apr 15, 2010
The contract is pretty limited in rights for the seller, who presumably wanted to sell their home or it wouldn't be listed. You do need to get with an attorney who specializes in real estate in Texas and resolve this issue. If you try to do something offbeat like dig in your heels and refuse to negotiate over any inspection findings, the buyer could turn the table on you and take the house in it's present state. End result, you are further into the contract and still in a position of selling the house to them. Let a professional attorney resolve this issue for you. A good Realtor knows when to defer to the attorney.
Good luck.
Ronda
0 votes Thank Flag Link Wed Apr 14, 2010
I think the only way out could be that your attorney calles other side attorney to talk to his clients---BUYER to let you out of the contract.
Im sure you would need a good valid reason.
Consult your attorney with out wasting any other day.
http://www.goforshortsale.com
0 votes Thank Flag Link Wed Apr 14, 2010
Hi Dorothy,

I'm terribly sorry that you're going through this. I would consult a Real Estate Attorney for legal advice. What is your reason for wanting to back out of the contract?

Tamika Turner
Hendrickson Realty Group
Cell: (972) 697-1178
Fax: (682) 222-1049
Email: Info@NewHomesInDFW.net
Website: http://www.NewHomesInDFW.net
0 votes Thank Flag Link Tue Apr 13, 2010
Dorothy,

You probably need to get with a real estate attorney.
Some things I can think of, but no guarantee is:

1. Offer buyer some cash to release you.
2. No or limited negotiations on repairs.
3. No flexibility on closing date if buyer's lender can't close on time.
4. If you have a good case for not selling, plead with them. Tell them your story
maybe they'll have a heart.
Why do you want out now?
Web Reference: http://www.teamlynn.com
0 votes Thank Flag Link Tue Apr 13, 2010
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
Hello Dorothy,
You need to speak to a Real Estate attorney for this one.
One thing that may help you though, is if the buyer or buyer's lender requests repairs refuse to do them. Sometimes that may be enough for the buyer to cancel the sale (in the case of the lender required repairs, if they are not completed the lender will not loan) and make sure that you disclose absolutey everything with the property.
The purchase contract is legally binding & typically doesn't include a rescission period for the seller's change of heart, only for non-performance by the buyer so make sure that you agent is on top of the deadlines for contingency removals & that the buyer closes on time (if they are going to be even a day late closing, you possibly could cancel for that reason).
But why the sellers' remorse?
Good luck.
Trevolyn
0 votes Thank Flag Link Tue Apr 13, 2010
A seller has no termination right under Paragraph 23 of the TREC or TAR contract form. This is a right paid by and reserved for a buyer.

Only your contract will tell you what rights you have. However, typically once an offer is signed by all parties, the seller is obligated to sell but the buyer is not obligated to purchase IF the buyer has a termination option. There are actually many ways for a buyer to terminate a contract, but unless you as the seller specifically added language to your contract, you may not have a way out.
Web Reference: http://www.phgbrokers.com
0 votes Thank Flag Link Tue Apr 13, 2010
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