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A Week from Closing |
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I am a week a way from closing the sale of my house. If I back out now, what is the potentially negative impact on me from the buyer, my real estate agent or others? |
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Your agent, having produced a ready, willing and able buyer and achieved a meeting of the minds, has probably earned a commission. Whether that would be claimed I can't tell you.
Your buyer, having incurred considerable expense and inconvenience, probably has a good claim for damages. There is even a special lawsuit for what is known as "specific performance" that asks a court to order you to sell; I don't think that one is invoked very often.
You didn't ask for advice, but I'll suggest strongly that you consult your own attorney immediately. |
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Edith
Originally published on September 29, 2007 |
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