We made an offer on this house, talked to seller, got the loan. We were just waiting to sign the contract.

Asked by Mary Hernandez, Los Angeles, CA Wed Dec 26, 2012

We call the sellers agent and he informs us that the seller backed out. Is this possible. Aren't you supposed to sign a contract to sell your home?

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This question was asked from this property: http://www.trulia.com/homes/California/Los_Angeles/sold/3937…

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9
carlos parra…, Other Pro, Monrovia, CA
Fri Dec 28, 2012
You do not mention a signed contract.
What were the terms of your offer? Did you have conditions to meet and a timeline to meet them?
It is difficult to give you a good answer without more information.
0 votes
Douglas Perez…, Home Buyer, Los Angeles, CA
Thu Dec 27, 2012
Mary-
If the seller did not accept your offer by signing it without any counter offer, then there is no binding contract, nor agreement, "nada."

Let me know if I can help you in Los Angeles.

Douglas Perez
0 votes
Sonya Coke, Agent, Los Angeles, CA
Thu Dec 27, 2012
Mary if you had a purchase agreement signed by both you and the seller and you removed all your contingencies then no, the seller cannot just back out of the deal.
0 votes
Joan Patters…, Agent, Rancho Cucamonga, CA
Wed Dec 26, 2012
You have gotten really great advice from everyone here. Good luck!

Joan Patterson, B.A., G.R.I., Realtor, License #01431647
Keller Williams Realty
951-204-1864
0 votes
SERGEY FEDNOV…, Agent, Beverly Hills, CA
Wed Dec 26, 2012
You must have fully executed contract signed by both parties in order to have any recourse and/or enforcement of contract terms.




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0 votes
Melvin A. Ca…, , Los Angeles, CA
Wed Dec 26, 2012
did you ever send a purchase contract ? was your offer acepted ?did you ever receibe a counter offer or did you open escrow ?if you never got an acepted offer from seller he could change his mind and dont sell his property ,but i find it hard to believe that he woud cancel and open escrow just like that , have your agent give you more details ,
0 votes
Marilyn Jenne, Agent, Los Angeles, CA
Wed Dec 26, 2012
Exactly as stated previously. Unless you had your offer in writing, you have zero recourse. When you make reference to the seller signing a contract to sell their home--you may mean the listing agreement. That is an agreement between the seller and the their agent allowing them to represent the home for sale. It does not guarantee that the seller will actually agree to sell the home.
0 votes
Marty Walker, Agent, Los Angeles, CA
Wed Dec 26, 2012
Mary, When you made your offer, was it submitted to the seller in writing on a purchase contract that you had signed? That would have been the way to do it, but when you said that you talked to the seller and were just waiting to sign the contract, it made me think that your original offer was possibly just verbal. Not knowing exactly how your offer was originally submitted, I'll just say that in a real estate transaction, everything needs to be in writing. You would not have an accepted offer until both the buyer and seller have agreed to it by signing it. Then, assuming that your lender has already pre-approved you as a borrower, he or she would begin the approval process for a loan that's specific to the fully-executed (signed by both buyer and seller) contract.

I hope this helps; however, please feel free to either call or email me with more specific information so I can tell you exactly what I think you should do. I'll be happy to help.

Thanks,
Marty Walker
eXp Realty
323.559.5823
marty.walker@exprealty.com
0 votes
We spoke to his agent. Throughout the bank. We had all the paperwork. When we went to see the house, the seller was trying to get rid of it. Saying he was leaving the country. I have looked at its history. And every month in the year 2012 it was relisted, delisted.
Flag Wed Dec 26, 2012
Janey Bishop, Agent, Calabasas, CA
Wed Dec 26, 2012
Need much more info. Why did the Seller back out? Do you have a Realtor representing your interests? The contract should have spelled out the terms you agreed to and be signed to obligate everyone to the transaction. A realtor will help you get a purchase accomplished.

Find out why the Seller backed out to know if there is any hope left in this one.
0 votes
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