Home Selling in Tucson>Question Details

Morales, Home Seller in Tucson, AZ

We signed an offer for our house we are now deciding to keep our house, can we cancel our contract?

Asked by Morales, Tucson, AZ Mon Feb 20, 2012

Please email me back asap. Thanks

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Answers

5
You can certainly decide not to sell your home; however, be aware that if a Realtor has brought you a ready and willing buyer, and an offer you agreed to, you may be liable for a commission. You need to speak with a Real Estate Attorney to discuss your legal ramifications.
0 votes Thank Flag Link Thu May 31, 2012
I would talk to a real estate attorney about this but James sounds about right to me.
0 votes Thank Flag Link Mon Feb 20, 2012
Hi Morales,

I would advise you speak with a real estate attorney on this matter. You should be able to cancel the contract but you will want to know the potential legal ramifications that come along with that.

Good Luck,
Brent
0 votes Thank Flag Link Mon Feb 20, 2012
It depends. Talk to your Realtor. However, you may still owe commissions and you will have to deal with the buyer. The buyer can sue you for specific performance, which means they can "make" you sell it to them. Maybe you should get an attorney.
0 votes Thank Flag Link Mon Feb 20, 2012
Hi Morales, a contract is a legally binding document. You want to read through it carefully and consult an attorney to see what options, if any, you have. Please also keep in mind that the buyer has already invested emotionally and, depending on what stage of the contract you are in, financially. Best of luck.
0 votes Thank Flag Link Mon Feb 20, 2012
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