Property Q&A in Glassboro>Question Details

Inez Davis, Home Buyer in 19120

Seller Cancelling Real Estate Contract

Asked by Inez Davis, 19120 Mon Jun 25, 2012

I have experience a unforeseen event after signing a contract (as is property), I want to cancel the sell. Please advise. New Jersey Seller.

Help the community by answering this question:


No one can force you to sell your house. The question that remains to be answered is what it will cost you to get out of the contract. Call your attorney and have him handle the paperwork asap. The sooner (in most cases) you advise the other side, the better.
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0 votes Thank Flag Link Wed Jun 27, 2012
The answers you have received so far are on point, you need to talk to a Real Estate attorney and ASAP.
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0 votes Thank Flag Link Tue Jun 26, 2012

Your contract is what will determine your ability to cancel the sale. Keep in mind that if you cancel the sale due to something outside the options in the contract, you could be held liable for the expenses of the buyer including title searches, mortgage fees and the commission to the brokerages involved. I'd recommend you call John Kosylo, 856-228-9455 and ask for his opinion and advice. John is a real estate attorney who's office is in Washington Twp but is very familiar with Glassboro and the Gloucester/Salem Counties Board of Realtors contract. Let him know I referred you.

Bill Nelson
Broker Associate/Office Administrator
Coldwell Banker Elite
856-374-8440 (office)
856-466-2502 (cell)
0 votes Thank Flag Link Mon Jun 25, 2012
Inez, it would depend on your circumstances and the exact details of your contract. Your best bet would be to consult with a real estate attorney who will outline your options and possible outcomes.
0 votes Thank Flag Link Mon Jun 25, 2012
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