How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask J. Warren Your Own Question
J. Warren
J. Warren, Lawyer
Category: Real Estate Law
Satisfied Customers: 2242
Experience:  Experience in residential real estate and commercial leases.
Type Your Real Estate Law Question Here...
J. Warren is online now
A new question is answered every 9 seconds

I live in Washington State. I received a below listing price

This answer was rated:

I live in Washington State. I received a below listing price offer on my home and signed a "residential real estate purchase and sale agreement" (specific terms), on Monday October 21st 2013. I contacted my real estate agent on Thursday October 24th and rescinded the acceptance of the offer, prior to the buyer putting their house on the market. On the 24th we signed a rescission of purchase & sale agreement, and withdrew my home off the Multiple Listings.

Do I now have to sell my house to this buyer, after signing a rescission of purchase & sale agreement?

Thank you. Brian.
Hello! My name is XXXXX XXXXX I look forward to helping and providing you information today.

I am sorry you are dealing with this situation. Typically the sale agreement in Washington will have a clause that gives the seller the ability to rescind the transaction upon providing proper notice. In theory, if the agreement does not provide for termination by seller, a buyer could sue for specific performance. Rarely in this circumstances does the buyer have a solid claim of specific performance, meaning suing the seller to force the sale. These types of suits, unless very unique circumstances exist which are not apparent in the facts presented situation, is not practical and rarely pursued.

The reality is that you are at very little risk to having to force sell your home to the buyer. To the extent the buyer has provided earnest money, that should be returned as soon as practical.

All my best & encouragement.

Please note that you are asked to rate my courtesy and professionalism, and not whether the answer supports your legal position. If for any reason you feel that a 2 or 1 rating is appropriate, please first give me the opportunity to address your concerns.

All states have intricacies in their laws and any information given is simply information only and specifically is not intended to be, nor does it constitute, legal advice. This communication does not establish an attorney-client relationship with you.
J. Warren and 2 other Real Estate Law Specialists are ready to help you

Related Real Estate Law Questions