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Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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My wife "the sellers" and signed a purchase agreement on

Customer Question

my wife "the sellers" and signed a purchase agreement on October 22,2016. The diligent period ended on Nov 7, 2016. On October 26 or 27 the inspection was completed. On Nov 2, 2016 the FHA appraiser called to make an appointment for the next day but we told her that we changed our mind of selling our house. Immediately we called our realtor telling her that we didn't want to sell anymore. Her answer was that she was going to talk to her broker. The day after she called us and said that if we would cancel the agreement we were liable for $5,000.00 to her company and probably to the buyers broker. After she said that we owed all that money, we kind of got scared and told her to go ahead with the appraisal. Yesterday Nov 8, the appraisal came through with full value of the listing price. Our concern is can we back out of the contract. The escrow date is Dec 5, 2016, and we will be out of the country till November 21, 2016.
JA: Because real estate law varies from place to place, can you tell me what state this is in?
Customer: Thank you.
JA: Has anything been filed or reported?
Customer: Pat & Gloria ****** **************
JA: Anything else you want the lawyer to know before I connect you?
Customer: ********************
Submitted: 10 months ago.
Category: Real Estate Law
Expert:  Ely replied 10 months ago.

Hello and welcome to JustAnswer. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.

I am sorry to hear about this situation. Do you have the contract between you and your realtor? If so, can you please attach it?