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Can Sellers Back Out of a Real Estate Transaction?

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

Are You Buying a Home in Port Aransas or on North Padre Island?
Call us at 361-563-7788 or get in touch with us online to tell us what you want from your next home. We’ll begin searching right away.
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Do Sellers Have to Fix Issues From a Home Inspection?

do sellers have to fix things from a home inspection - port aransas texas real estate
When you’re buying a home, whether it’s a Port Royal condo or a house in El Pescador—or anything else, your real estate purchase contract likely contains a contingency that lets you walk away from the deal if there’s a major problem with the home inspection.
But what should you do about problems if you don’t want to walk away?

Do Sellers Have to Fix Things That Pop Up on the Inspection?

Sellers don’t have to do anything—but in many cases, they are willing to make repairs so you’ll still buy the home.
If you’d prefer to hire your own contractor (and be able to supervise repairs), you can do that too—just ask the seller to take what it would cost you off the selling price and go from there.

What if You Don’t Have a Home Inspection Contingency?

If there’s no home inspection contingency in your real estate purchase contract, you’re between a rock and a hard place. You can’t force the seller to fix the issue, and you can’t back out of the deal. That’s why it’s so important to ensure your purchase contract has all the protections you need built into it from the beginning.

Are You Buying a Home in Port Aransas?

If you’re looking for a home in the beautiful city of Port Aransas, we’d love to help you.
Call us at 361-563-7788 or get in touch with us online to tell us what you want from your next home. We’ll begin searching right away.
While you’re here, check out our:

You can also check out:

 
 
 

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