If you pull out, then the buyer seems only rightfully so have some rights to indemnification. He or she may have lost out on another property, no has to rent for longer etc. etc.
So make sure to talk immediately to an experienced real estate Attorney to see what the best solution for you would be. And since you have lost your job, how comfortable are you keeping and maintaining
Please take a deep breath and get all the information from all the experienced professionals before
you make a decision that at the end is not the very BEST for you.
Edith YourRealtor4Life & Chicago and Northern Illinois Expert
Working always in the very BEST interest of her clients, Buyers, Sellers and Investors alike....
Covering for @Properties the city of Chicago, all N and NW suburbs, the fine homes on the
North Shore, and many of the W and SW suburbs, and with her trusted Partner Agents all of
the US and worldwide properties. Edith speaks French, German, some Spanish and other.....
@Properties, 30 Green Bay Rd, Winnetka, Illinois 60093 ---- EdithDoesItRight@yahoo.com or EdithSellsHomes@gmail.com Check out my website at htttp://www.tinyurl.com/MeetEdithHere
get to know me better and learn about my experience, expertise, services available and letters of recommendation of former clients..... Also you can sign up on my site to search for properties in my expanded service area. HAVE THE MOST WONDERFUL DAY :)
But that isn't to say there aren't going to be ramifications should you change your last minute and that the buyer might not sue you for specific performance and be awarded damages in mediation (or in court, depending on the norm there.)
If you're considering walking away from an executed purchase contract, talk to a real estate attorney ASAP to find out what the possible ramifications might be.
DEVON, PA March 15, 2012 â€“ Long & FosterÂ® Real Estate, Inc., the largest independent residential real estate company in the United States, recently honored sales associates. The awards were presented at Long & Fosterâ€™s held March 7th, 2012. Recognized for outstanding sales achievement for 2011 was Rob Hughes & Hughes Associates who achieved Top Producing Sales Group of the office. An award-winning, consistent top producer, Rob is always focused on delivering the best service to all his clients, whether you are new to the market or an experienced purchaser. Rob has the experience, expertise and proven track record over 25 years to handle any Residential/Commercial transaction, and all the latest resources to help you achieve all your Real Estate goals.
Rob Hughes: Long & Foster Real Estate Inc.
(Associate Broker) (AB065650)
(Hughes Associates) (Realtor since 1987)
Office: 610-225-7400 x7438
Cell# 484-410-9765 (Preferred)
If you have a signed agreement of sale, you may have to move forward to settlement, if you are just listing and have no signed agreement of sale then you can easily withdraw your home from the market. If you do have a signed agreement of sale, you need to consult an attorney as soon as possible.