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I decided I do not want to sell my home but I signed a

Customer Question
Hello, I decided...

Hello, I decided I do not want to sell my home but I signed a contract for sale. I would like to terminate the contract but the real estate agent told me to contact a lawyer before she would tell the buyer that I want4d to cancel. Can I be sued for breach?

Lawyer's Assistant: What steps have you taken so far? Have you prepared or filed any paperwork?

The only steps I have taken are verbally telling my real estate agent that I do not want to sell my house.

Lawyer's Assistant: Where is the home located?

Wilmington, NC

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

That the house has only been under contract for a few days, there have been no inspections and I have not received any due diligence yet.

Submitted: 3 months ago.Category: Real Estate Law
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Answered in 10 minutes by:
3/26/2018
Real Estate Lawyer: Barrister, Lawyer replied 3 months ago
Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 42,596
Experience: 17 years real estate, Realtor. Landlord 26 years
Verified

Hello and welcome! My name is ***** ***** I am a licensed attorney and will try my best to help with your situation. There may be a slight delay in my responses as I type out an answer or reply.

.

Unfortunately, yes, you could be sued... You can't just back out of a written contract because you change your mind without repercussions. Legally the buyer could sue you for "specific performance" to have a judge order the sale to go through and hold you liable for all the legal costs of doing so.

.

However, from a practical perspective, this rarely happens because the buyer doesn't want to spend $10,000 on an attorney up front and a year of their life in court to sue for the house.

.

So normally, if the seller backs out, they will pay any expenses the buyer has incurred and maybe offer them some additional money for their time and trouble and then they will cancel the contract.

.

Bot***** *****ne is can they sue, yes... it is likely... no..

.

As an aside, in addition to being an attorney, I have also been a licensed Realtor for over 15 years...

.

.

thanks

Barrister

Ask Your Own Real Estate Law Question
Real Estate Lawyer: Barrister, Lawyer replied 3 months ago

Hello again,

.

I just wanted to touch base with you and check in.

.

Did you have any further questions I can help with?

.

.

Thanks much

Barrister

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