How can a seller legally break a real estate contract to sell my home?

Asked about 5 years ago - Boulder, CO

I have signed a contract with my selling agent to sell my home 8/1/09; buyer made offer, we countered and I signed that agreement, closing 8/28/08. I want out of it legally, what can I do? Its costing me too much to sell, I have to bring $8500 to the closing table, but I agreed in the contract to provide the closing money. Now after looking at my options I want out of the contract. Your advise please?

Will I need lawyer representation or can I do it on my own, whats involved? Time is of the essence so I need to act very soon but I want to do it properly ...

Additional information

Can I use 'claim of duress', as a way out of the contract, whats involved?

My close date is 8/28/09. Currently, my home is under contract but selling agent has not flagged the listing as such, not sure why; my selling agent removed the for sale signs from my home yesterday.

Attorney answers (2)

  1. William Robert Falcone

    Contributor Level 13

    Answered . You should contact an attorney immediately. The problem you have is that you agreed to the sale. How long ago did you do so? If you are too late to rescind, you could be responsible for the commission, The buyer could also sue for specific performance which would mean that you would have to sell. In the alternative they could sue for damages actually sustained as a result of your breach. So, do not delay, call an attorney in the morning.

  2. Culver Winston Van Der Jagt

    Pro

    Contributor Level 14

    Answered . You need to seek an attorney's advice on this one. I don't think it is a good idea to take any position under these circumstances without getting advice first.
    It does not sound like Duress is a good argument though if there was not some extreme pressure on you (usually physical pressure).
    Culver
    303-345-3508

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