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Ratings. Guidance. The Right Lawyer.
WA State Real Estate Deal, Seller wants out, Consequences?
Port Townsend, WA
Viewed 67 times.
Posted 3 months ago in Real Estate
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I entered into a real estate purchase and sale agreement 5 days ago as the seller of a residential property. No inspection has occurred. Buyer has incurred no cost as of yet. I am uncomfortable with my decision to sell the property and now want out of the agreement. What are the consequences of me pulling out of the deal?
Answers (1)
Thuong-Tri Nguyen
This attorney is licensed in Washington.
Posted 3 months ago.
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If the purchase and sale agreement is enforceable, the buyer can ask the court to order you to follow through with the sale. Your agreement likely also allows the prevailing party to get attorney's fees and reasonable costs from the losing party.
Purchase and sale agreement for a real property must contain certain statutory elements. Perhaps yours is not an enforceable agreement. What you can do do is promptly review your facts with your attorney to find out whether the agreement is enforceable. Also, you can always ask the buyer to cancel the contract. |
