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Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 33761
Experience:  15 years real estate, Realtor. Landlord 26 years
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My house is in escrow. Can I pull out of the deal at this

Customer Question

My house is in escrow. Can I pull out of the deal at this point? Complicated.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Barrister replied 1 year ago.

Hello and welcome! My name is ***** ***** I will try my level best to help with your situation or get you to someone who can.

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Are you the buyer or seller?

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Can you tell me what state you are in?

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thanks

Barrister

Customer: replied 1 year ago.
Seller in CA
Expert:  Barrister replied 1 year ago.

Ok, you can always breach the contract and refuse to continue. The buyer's options are then to either agree to cancel and get their deposit back, sue for "specific performance" to force the sale to go through, or sue for damages that they have incurred due to the breach.

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The buyer doesn't normally want to get into a year long lawsuit to force the sale to go through and the most common option they choose is to sue the seller for any costs they have incurred and their deposit back.

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So if you were to offer to pay their expenses associated with the sale, like appraisals and loan fees, and refund their deposit, normally the buyer will reluctantly agree rather than spending thousands on an attorney and a year of their life suing to force the sale to go through.

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thanks

Barrister

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