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Old 09-25-2009, 01:08 PM
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Join Date: Sep 2009
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csedwards is on a distinguished road
Default Seller trying to back out of deal

I made and offer on a property for sale and gave earnest money. The offer was accepted about 6 days ago. Last evening, my real estate agent advised me that the seller wants to cancel the deal. She advises me that the seller wants me to sign a mutual agreement to stop the sale. He told her to just drop it. I think I have the right to the agreed sale of the property at the agreed price.
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Old 09-25-2009, 01:17 PM
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Join Date: May 2007
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Dr.Jim is on a distinguished road
AFAIK you are correct. As long as the terms of the sale are being met, the offer acceptance (signed!) is a legal doc at this point.
It tables were turned, and you wanted to back out, you would lose the earnest money and could be sued by seller if they chose too.

Downside is that unless you are willing to sue them in order to buy the house....there isnt much else you can do.
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Old 09-25-2009, 03:06 PM
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Location: Grosse Ile Michigan and Sometimes Orange County CA
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It depends on what the contract that you signed says. Read it. Then you can decide whether you want ot bother to go to a lawyer, or threaten to go to a lawyer. Is there some reason that you are willing to force this deal if they no longer want to? Is the house special, or an unusually good deal? What is their reason? If it is a family home and a relative showed up and convinced them not to let it go out of the family, do you really want to take it from them? IN this market, it should be easy to find as good or better deal.
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