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Irwin Law
Irwin Law, Lawyer
Category: Real Estate Law
Satisfied Customers: 6849
Experience:  Lawyer- Broker 30+years - foreclosure, short sale, liens, title attorney.
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I decided not to sell my house, the house I purchased fell

Customer Question

I decided not to sell my house, the house I purchased fell through unexpectedly.
I unfortunately signed the papers selling my house. I don't want to sell.
I offered the buyer $2,000 to cancel the sale. It was declined and countered with $5,000.
I countered with $3750 but it wasn't accepted.
I am told I need to sign a notice of cancellation to the buyer? I don't know anything about what I am doing here.
Submitted: 3 months ago.
Category: Real Estate Law
Expert:  Irwin Law replied 3 months ago.

Good morning, sorry to hear about your situation. The bot***** *****ne is that a buyer can force you to sell the property pursuant to and accepted contract. You don't have the right to unilaterally withdraw from the sale. Therefore, you must reach some monetary agreement with the buyer and obtain a mutual signed release. You will also have to deal with your real estate broker because there is a commission aspect to this issue. Whatever you negotiate must be concluded with a written agreement so that you can be sure that you are finally released from the contract.

I hope that this answers your question. If not, please feel free to send me a reply for further information. Experts on this site (myself) are compensated ONLY if the customer (yourself) "rate" or "accept" the answer.

Please rate the answer so I may receive credit. There is no additional cost to you. Thanks for your understanding and for using JUST ANSWER.

Customer: replied 3 months ago.
My agent didn't explain to me that if my house purchase fell through, I still had to sell. I was working with 2 different agents, one for buying, one for selling and it all got confusing. I wished I would have worked with one person and have been advised on things.
Expert:  Irwin Law replied 3 months ago.

Your sale agreement could have been made subject to the successful purchase of another home. THere's nothing you can do about it now if that wasn't the case.

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