Sonny, Home Seller in Saint Clair Shores, MI

we have our home for sale and found a buyer papers have been signed home inspection passed house has not been appraised yet . We decided we don't

Asked by Sonny, Saint Clair Shores, MI Sat Apr 10, 2010

want to sell how can we get out of this deal?

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Answers

8
haha Ron - ya think?

One would hope, anyway................
1 vote Thank Flag Link Sat Mar 9, 2013
THREE YEARS AGO!!!

Probably finished selling by now.
1 vote Thank Flag Link Sat Mar 9, 2013
Sorry it sounds like you are tied into a legal and binding contract.
0 votes Thank Flag Link Sat Mar 9, 2013
Sonny..hi.....here are a few suggestions.

1. First - read your contract beginning to end - seeif you can find any "outs"
2. Assuming you have an agent, bring them into the discussion......
3. If you don't have an agent, or even if you do.............as mentioned by others, you need to check with a real estate attorney to see what options you have - legal options - that won't put you on jeopary of being sued!

4. When all else fails, you may simply try to ask the buyers to let you out of the contract - if need be, even offer some monetary incentive if you really want out that much. You didnt say how long you have been in contract with the buyers, but perhaps they will be sympathetic to your reasons for wanting to remain, if you explain it to them, , and will work with you..........as i said, sometimes money can help people see things your way!

Other than the above suggestions........I can't think of what else you can do...............other than pray the house doesn't appraise out!

Oh, and do not forget to bring an attorney into the picture - you must make sure you are covered legally.

Good luck
Debbie Rose
Prudential NJ Properties
0 votes Thank Flag Link Sat Apr 10, 2010
The easy way is to start writing checks. The difficult way is to hunker down while the real estate companies and the buyer threaten legal action. In the middle, you might just ask everybody to go away, and they may just agree to do so. You never know unless you try!

I think it's safe to say that you probably don't have much of a legal ground to stand on by not going through with this deal.
0 votes Thank Flag Link Sat Apr 10, 2010
Nothing short of attorney involvement is going to help you at this point. Call one, ASAP.
0 votes Thank Flag Link Sat Apr 10, 2010
You've cleared the biggest hurdle in this economy, you actually sold your home and now you can take your pick of Dream Homes...it would be easier on you and your bank account to simply pick a new home and move. That is the first time I've heard this situation, hard to understand your thinking, but you do have a legally binding contract and you may not be able to get out of it.
0 votes Thank Flag Link Sat Apr 10, 2010
You need a lawyer at this point. You've signed a contract. You can try going to the buyers first and asking them to let you out. At a minimum, offer to pay for their expenses, like the inspection. You probably owe a commission to the brokers too.
0 votes Thank Flag Link Sat Apr 10, 2010
Maureen Fran…, Real Estate Pro in Birmingham, MI
MVP'08
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