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JD
JD, Lawyer
Category: Real Estate Law
Satisfied Customers: 1335
Experience:  Over 11 years litigation experience including eminent domain and real estate disputes
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I have had my house on the market for 3 months of a 6 month

Resolved Question:

I have had my house on the market for 3 months of a 6 month real estate contract,planning to be married and be relocated. But the marriage is off now, just yesterday I was offered a cash offer at almost full price. I don't want to sell. How can I get out of the deal?
Submitted: 7 years ago.
Category: Real Estate Law
Expert:  JD replied 7 years ago.

Until you enter a contract to sell your home you cannot be forced to sell it. You need to read your representation contract (realtor contract) about fees or penalties for taking your house off the market. Your asking price is only an invitation to enter into a contract and is not binding upon you until you enter into an actual contract to sell. So the only thing you need worry about now is the penalty or fee you must pay your realtor. Most contracts I've reviewed do not require a fee as long as you do not sell your home, however I have seen examples of early termination fees.

 

Please reply if I can help further.

 

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