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Samuel-II, Lawyer
Category: Real Estate Law
Satisfied Customers: 27011
Experience:  real estate law
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We are selling our home in Texas, we signed a contact 8 days

Customer Question

We are selling our home in Texas, we signed a contact 8 days ago can we still pull out of this contact without penalty.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Samuel-II replied 1 year ago.
Hello This is Samuel and I will discuss this and provide you information in this regard.The contract will have provisions for when it may be cancelled. For instance, it may be based on a contingency and if the contingency is not met, then you can cancel the contract. Such a contingency may be based on the sale of another home, or obtaining financing. There should always be a provision that will allow a cancellation after a home inspection for any reason or no reason.