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Ask Asad Rahman Your Own Question
Asad Rahman
Asad Rahman, Lawyer
Category: Real Estate Law
Satisfied Customers: 1720
Experience:  Practicing Attorney with 10 years experience
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I'm a seller in an open escrow, where the seller was going

Customer Question

Hi! I'm a seller in an open escrow, where the seller was going back and forth so many times, that I don't wanna sell the house anymore. Is there any single way for me to cancel the deal? My agent says they have 48 hours to release the funds and if they do so - I have to sell.
Submitted: 4 months ago.
Category: Real Estate Law
Expert:  Asad Rahman replied 4 months ago.

You really need to look at your contract and see if there is any cancellation provision. however, you can walk away but it would be a breach of the agreement and the court could award damages and even force you to go through the sale. your only bet is that the buyer would rather not waste any more money on attorney fees in a court battle.

Customer: replied 4 months ago.
there is no legal way to walk away?
Please review the files attached, may be this helps
Expert:  Asad Rahman replied 4 months ago.

Did Buyer remove the contingency that you asked them to remove?

Customer: replied 4 months ago.
No, not yet
This signed documents were sent to him today
Expert:  Asad Rahman replied 4 months ago.

That may be an out. Also, if the escrow issues continued then you could say they breached the contract and you want to walk away.

Customer: replied 4 months ago.
I just wait 48 hours and if they don't release the money - I walk away? But Can I do anything before that?
Expert:  Asad Rahman replied 4 months ago.

Well you asked them to remove the contingency and if they refuse then you can walk away too.

Expert:  Asad Rahman replied 4 months ago.

You could try walking away now since they have failed to put the money in escrow at the onset of the contract. At least it gives them the impression that they breached it.

Expert:  Asad Rahman replied 4 months ago.

I know it is not the most optimal situation, but it is my job to tell you the most accurate information not what you would like to hear. Let me know if you have any other questions.

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