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Sellers Remorse |
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I have decided that I don't want to sell my house. The problem is that I go to settlement tomorrow afternoon. What will happen? |
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Whatever happens, it won't be pretty.
If settlement is tomorrow afternoon, you must make an emergency visit to a real estate lawyer tomorrow morning -- or preferably, if you can possibly arrange it, this evening or at midnight tonight.
Take along all the documents you have. If there's any loophole that would give you an out, your lawyer will find it. If not, your attorney will outline all the bad things that can happen to you.
A lot might depend on your buyers: have they moved out of their former residence already? how much have they spent on their mortgage application? how willing are they to negotiate a settlement with you? how set are they on your specific house and no other? Your real estate agent, having done what he or she was hired for, produced a willing and able buyer and negotiated an agreement, is probably entitled to full commission, whether or not you go to closing.
But first -- take a deep breath, count to ten, and try to remember why you wanted to move in the first place, and how good it felt when you accepted that purchase offer. |
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Edith
Originally published on July 25, 2008 |
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