Home Selling in Glen Park>Question Details

grecia2001, Renter in Clermont, FL

I signed an agreement to sell my house with a buyer trough my Realtor, the inspection is done;now 10 days later I change my mind to sell.

Asked by grecia2001, Clermont, FL Tue May 14, 2013

What is my Situation? is 29 days before closing, thank you

Help the community by answering this question:

Answers

8
Definitely contact an Attorney and be ready to spend some major money. I am not an Attorney and am not giving you legal advise, but the experience I have had in the past as a Real Estate Broker is that you may be liable to the Buyer for damages. Possible damages is that this Buyer may have already given notice that he or she are moving out of their present home or it they are selling their existing home it may have cause them to accept their Buyers offer and now there are more parties involved with damages. These Buyers may end up homeless due to no fault of their own and you may be liable for that. Furthermore, your Agent and the Buyer's Agent/Broker may also sue you for commissions earned. Tread carefully. You should have really made this decision before accepting this offer and causing financial damages to so many people. Needless to say, its a BAD decision to try to break your accepted offer. Hope other Sellers & Buyers read this article. This is a contract!!! Back in the day it was also known as "Your Word". You are messing with people's lives and paychecks when you decide to go back on your word and it should cost you large. Sorry if I sound cold to your situation but you should have really thought about this even before listing your house for sale. It's NOT a game!

Respectfully,

Eddie W. de Leon
951-210-2101
NMLS #238369
1 vote Thank Flag Link Tue May 14, 2013
Beside talking to an attorney; maybe you should open it up with all parties with the reason why you are changing your mind. A mutual agreement with all parties may get you out of contract as well. Good luck!
0 votes Thank Flag Link Wed Jun 5, 2013
What does your agreement say? What does your REALTOR say as well? As the others have recommended, you will want to discuss this with a real estate attorney as it could seriously impact you if you don't perform under the agreement you signed. Best of luck!
0 votes Thank Flag Link Wed Jun 5, 2013
You may be sued by the buyer AND the brokers on both sides for the commission. I would recommend discussing your change of heart with all parties. If you're ok paying the commission, reimbursing whatever costs the buyer has already incurred and providing a "cancellation incentive" to the buyer, then try working it out with everyone before spending thousands more on an attorney. Of course, an attorney would be the safest option for all involved and if they are already aware of your intentions, and they've spoken with their attorneys, then you should do the same.

Basically, if you break the purchase contract, it could be messy and expensive for you.
0 votes Thank Flag Link Tue May 14, 2013
It sounds like your realtor is representing both you and the buyer. You need to speak with an attorney.
0 votes Thank Flag Link Tue May 14, 2013
I would need to know a lot more information before I could give you an intelligent opinion, but you should speak with a real estate attorney to get a legal opinion anyway.
0 votes Thank Flag Link Tue May 14, 2013
Hi grecia2001,

Contact a Real Estate Attorney to see if you can cancel contract without being in breech or if you will need to pay damages.

Shanna Rogers
SR Realty
http://www.RealtyBySR.com
0 votes Thank Flag Link Tue May 14, 2013
You might consult with an Attorney;
Ask him about specific performance and contracts.
The Buyer may be doing the same.
0 votes Thank Flag Link Tue May 14, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer