Home Selling in 06706>Question Details

juan, Home Seller in New Haven County, CT

I signed a contract and I no longer want to sell

Asked by juan, New Haven County, CT Mon Dec 8, 2008

Hi,

I have sellers remorse and no longer i want to sell. My realtor is aware of this situation and she said she can sue me for a full comission. I am willing to give her the full comission but the sellers already done a home inspection and the clossing its schudule in 2 weeks. I have their address and I am thinking about talking to them and offer them a couple of thousand dollars to walk away. Can I legally do this? Please advise.

Thanks!

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Answers

6
Start with calling a good real estate attorney in your area. if there is a way to help you out of the contract they will find it, but there are penalties for defaulting so make sure you consult with an attorney.
1 vote Thank Flag Link Mon Dec 8, 2008
Like most law-suites, it costs more for the lawyer than the suite is worth. I would try to reconsider and actually follow through with the sale. If you are 100% NOT SELLING, talk to a lawyer about the possibility of paying them off and making sure everything is agreed on contract.
0 votes Thank Flag Link Fri Dec 26, 2008
If you were 2 weeks from closing, then you probably have an attorney. Ask his/her opinion. Only they can tell you the legal ramifications. If you make good on everyone's losses, you probably won't have any problem doing this however. The agent has no complaint if they are compensated. If the buyer agrees, you are in good shape. Depending on their situation, and what they may have committed to, will determine how agreeable to this.
Web Reference: http://www.danrossre.com
0 votes Thank Flag Link Mon Dec 8, 2008
Confer with attorney or the listing agent broker, seller do change there minds, The contract will "spell out" if either party should change their mind what the financial obligations would be for that party.

How kind for you to consider paying agent(s), buyer for all their time vested.

However if you are still in the option period you might be able to cancel the contract without any financial obligations to any party, NEED TO HANDLE THAT ASAP.
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Mon Dec 8, 2008
You definitely need to call a real estate attorney and take his advice and only his advice. Walking away from a contract can be costly. I would make the call today.

budrusty@aol.com
0 votes Thank Flag Link Mon Dec 8, 2008
juan, Jim has given you the best advice possible. Not knowing the inside details of what took place or who did what, the bottom line is committments were made, paperwork done, time consumed for everyone involved and a buyer who obviously wants to buy your property. You need to talk to an real estate attorney before stirring up a hornets nest.

I hope it works out for you, Dunes
0 votes Thank Flag Link Mon Dec 8, 2008
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