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RealEstateAnswer, Lawyer
Category: Real Estate Law
Satisfied Customers: 28364
Experience:  10+ years in handling Leases, Landlord-Tenant, Foreclosures,Mortgages, and Eviction cases
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My daughter got an offer on her condo and couter offered and

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My daughter got an offer on her condo and couter offered and it was accepted. She called a day after she made the counter offer to cancel the listing. Is she bound to the contract of does she have a "grace period' where she can change her mind?
Hi! I will be the professional that will be helping you today. I look forward to providing you with information to help solve your problem.

Good afternoon. I certainly understand the situation and your concern. What was the Realtors response when she call her? Also, why does she no longer want to sell?
Customer: replied 4 years ago.

The realtor's response was that she had to continue with the sale unless the buyer's found something that they wanted fixing after their inspection report was done. Then she could refuse to fix it and back out of the deal.


She changed her mind, as she is negotiating a divorce and child custody and her lawyer thought that it would be a good idea to keep her 4 year old in the home she has always know for now..

Thank you for the additional information. The counter-offer which she made, is a new offer and if it was accepted by the buyer, it would be legally binding. In a situation like this, she can contact the buyer and see if they would agree to cancel the contract and walk away. If not, she needs to read the terms and conditions of the contract and see what her potential liability/damages are, for breaking the contract and not selling. Of course, if the buyer has an issue with the home, she can refuse to make any repairs or accommodate them, if she does not want to and the home is being sold "as is". She can also take a chance and tell the buyer who can no longer sell and will not close and hope that they will just walk away and not pursue any legal action, since this just happened and they may have not suffered any damages.

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