Draft Real Estate Sale Agreement in New York for Real Estate Business
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Real Estate Sale Agreement
New York
Business
Real Estate
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Real Estate Sale Agreement
Massachusetts
Can a seller back out of a Real Estate Sale Agreement after signing it?
I recently entered into a Real Estate Sale Agreement with a seller to purchase a property. However, a few days after signing the agreement, the seller expressed their desire to back out of the deal. They claim that they received a better offer from another buyer. I'm wondering if the seller has the right to do this, or if I have any legal recourse to enforce the agreement and proceed with the purchase of the property.
Moss S.
It all depends on the contingencies that are contained in the agreement. Some of those contingencies include an inspection, financing, title defects and more. I would have to review the agreement to let you know precisely what rights that you have to terminate the transaction.
Real Estate Sale Agreement
Massachusetts
Can a seller back out of a Real Estate Sale Agreement after signing it?
I recently entered into a Real Estate Sale Agreement with a seller to purchase a property. However, a few days after signing the agreement, the seller expressed their desire to back out of the deal. They claim that they received a better offer from another buyer. I'm wondering if the seller has the right to do this, or if I have any legal recourse to enforce the agreement and proceed with the purchase of the property.
Laura H.
Generally, a real estate contract is binding and enforceable once it is signed. There are sometimes contingencies built in, usually for the buyer's benefit. The best way to find out your specific options is to have a local attorney review the agreement.