Can A Seller Back Out Of Selling?
Question: The seller of the home I was buying in St. Joseph, Michigan, changed mind about selling 6 days before closing, what can I do?
Answer: Since the sale of real estate is entirely a matter governed by written contract, you have to look to the language of the contract. If there was a contingency in the contract that the buyer could legitimately claim they was not satisfied, then the buyer can cancel the purchase. If there were no contingencies in the purchase agreement or if all contingencies had been satisfied and waived, then the buyer cannot back out. If you have questions on this I would recommend you see a real estate attorney and have them review the contract. However, I do caution that if the sale was through a real estate broker's office, then they are unlikely to pursue another purchaser until this contract is agreed in writing to be terminated. The real estate agents do not want to be put in the position of having two agreements outstanding on the same property. So if it is an easy property to sell, you may just want to release the buyer after deducting your expenses of the sale to date. If it is a difficult property to sell, you may want to see the attorney and check out your legal rights.
Attorney: Mark Miller