Skip to main content

Can seller back out of contract the day after it is signed?

California residence. Long story short. My dad is selling the house I grew up in. A couple days ago, I spent the weekend fixing up the place and decided I really am attached to it and want to buy it. Later the next day, after work I called him to tell him, but he had put it on the market and agreed to an offer and signed the contract all within about an 8 hour period. He is very distraught, and so am I as he wants me to have the house. As the title suggests, is there a "3 day cooling off period" or "5 day attorney review period" or something along those lines that we can utilize an attorney to help us back out of the contract? Assuming there are no other clauses that allow us to back out. For example, "if seller can't find another home to buy in 30 days he can cancel", etc. I am also willing to pay for damages and fees the other party has incurred out of pocket no problem at all. I really want to make up for their losses, especially because I'm to blame. I would love to know if there any laws such as what I mentioned previously that us to back out without breach of contract, but also if there isn't any we back out a breach contract, can I just have a lawyer offer a settlement for cost of damages to the buyer outright without having to take it to court? I'm probably going to speak with an attorney tomorrow.

submitted by /u/XxbloodawgxX
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/12tu1ib/can_seller_back_out_of_contract_the_day_after_it/
Labels:

Comments

Post a Comment

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...
Post a Comment
Read more

Looking for Prospective Opportunities to Utilize Floor Plan Redraw Skills

"Hey HomeOwners & Investors , I have a team of 10 professionals who are trained in redrawing/redesign floor plans in both 2D and 3D interior& exterior using floorplanner.com/3ds Max and TruView point cloud. We're looking for prospective opportunities to utilize our skills. Are there any companies or individuals in need of accurate floor plans and measurement reports ? Any suggestions for where to start looking? Thanks in advance for your help!" submitted by /u/mangojuicelife [link] [comments] source https://www.reddit.com/r/RealEstate/comments/119uoh0/looking_for_prospective_opportunities_to_utilize/
Post a Comment
Read more

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/
Post a Comment
Read more