Can Sellers Back Out of a Real Estate Transaction?
In some cases, sellers can back out of a real estate transaction – even if they’ve already accepted your offer. Here’s what you need to know.
Can Sellers Back Out of a Real Estate Transaction?
There are only a handful of circumstances in which it’s okay for sellers to back out of a real estate deal, including:
- Before both parties have signed the real estate contract
- While the contract is under a legal review period
- When there’s a contingency that allows the seller to back out of the contract
- When the buyer (you) doesn’t stick to the terms of the contract
- When the buyer asks for repairs the seller isn’t willing to make
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