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

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

warning about Biggins and Scott Brunswick

his is a general warning for people who use this agency to rent a property. I am going to share a disgusting experience that I had with the above agency. I was new to the rental experience after a marriage breakdown so I answered a add on Real Estate .com and met a guy in Maribyrnong to look over a apartment . He suggested he was not only going to be my roommate, but he also worked at the company in Brunswick. All looked good and myself and a lovely lady moved in to the apartment in late March. Everything was going well ,we were paying our rent and things were moving forward with 3 people coming from different age groups and different upbringings. Then on the 25th of June out of nowhere 3 Breach Notices appeared on my email from my roommate but on Biggins and Scotts letterhead. I was completely surprised and after trying to reason with the sender of these documents, I then decided I had to call his boss the Director of Biggin and Scott in Brunswick. David told me that he was ...
Post a Comment
Read more