Question:

My husband and I have already signed a contract to sell our home. However, we have since changed our minds and no longer want to sell. Can we get out of selling our home?

by Guest721  |  6 years, 9 month(s) ago

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My husband and I have already signed a contract to sell our home. However, we have since changed our minds and no longer want to sell. Can we get out of selling our home?

 Tags: changed, Contract, Home, husband, minds, sell, selling, signed

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  1. Guest721

     First, look at the contract and see if there are any contingencies that allow you out of the contract.

    You can always decide not to sell.

    You just don't know exactly what the buyer's reactions are going to be. You don’t know if they will attempt to enforce the contract. You don’t know if there will be legal repercussions. You might want to get an attorney's opinion at some point, since we do not provide legal advice.

    If you do cancel, think about ways to soften the blow to the potential buyer who has put up an earnest money deposit, may have already paid for a credit report and appraisal, and may be charged a cancellation fee by the settlement agent. They may have already given notice (if they rent) or sold their own house, too.

    If you reimburse them for some of their hard costs, maybe they will not try to enforce the contract.

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