Can A Seller Back Out Of A Purchase Agreement

If you cancel an agreement unexpectedly, you are violating not only the contract with the buyer, but also your seller`s agreement with your listing agent (sometimes referred to as the “exclusive right to sell”). This is because in the laws governing real estate transactions, there is what is called a “specific determination of benefits”. This gives the buyer the right to compel the seller to fulfil its obligations under the contract. It is to bring the seller to justice and force the conclusion of the sale. In most cases, sellers are highly motivated to sell and ready to go on with their lives (literally packed with their suitcases and ready to go). However, there are several common reasons why we see sellers out of business again.

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