 Moving to another state? |
| I want to move to another state not sure which yet but I wanted to know about prices of houses or apartments I just want a simple one bedroom one bath house since its only me and please be sure to ... |
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 How old were you when you bought your first house and how much was it? |
| I live in NJ and the real estate here is very costly. I'm 27 right now and I don't think I am anywhere near a down payment for even a condo (typically in the $200K range). It's just ... |
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 Is it mandatory that you carry homeowners insurance? |
| My wife and I have two kids, and we have been forced to live on a tighter budget for the past 6 months. Allstate just raised our homeowners insurance by $50/month and that is more than we can afford ... |
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 Can I afford this apartment, or would I be getting too "over my head"? |
| I live in the Northeast region of the US, where costs of living aren't exactly the cheapest. I'm looking at an apartment that costs $905/mo for 1bedroom. This price is for a place in a ... |
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 Wats the cost of living in USA? |
iam frm india and going for a masters degree in US, iam not taking a accomadation that the uni is providing, so pls tell me detailes the cost of living
the house
studio
guest ... |
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 What can you do when someone you bought a house from did not make a significant disclosure? |
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 Mortgage Rate questions? |
| Hi i recently purcased my first town home. My question is on the mortgage rates, i want to know if i got a good rate on my home. 100k home with a 6.75% fixed for 30yr? And i also have a question on ... |
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| Terminate you if you don't give a 100%? If they fire my sister in law before a certain date, she will lose 30K in real estate commissions and they know it. Her boyfriend just died and she is ... |
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| We have been charging our daughter $100 per month rent since she graduated college two years ago. We feel that this is low, but we wanted to help her get back on her feet. Does anyone know what a ... |
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| Can a landlord go to a persons place of work to collect rent money? |
| i have a friend that is a single mom who rents and her landlord is always coming into the house when she is gone and the landlords wife is always showing up at her place of work to collect rent money.... |
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 I have not received my security deposits from my past landlord and it has been over 3 months, can I sue? |
I did all the necessary protocol:
- I owed no rent
- Gave them letter notice of my move out at the end of my lease
The leasing agent and old property manager know they owe me my ... |
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purelygeneric | As a seller, can I back out of a real estate deal if a contract is not yet signed? |
We verbally accepted an offer but are now having second thoughts. The realtors are working on putting the contract together and that has ben sent to my lawyer. They'll likely be a contract date set up this weekl. Will I face any fees or legal problems? Do I need a solid excuse? Thanks! |
 |
 
Dogzilla
 |
I think that you are safe until the contract is signed. I doubt they will be happy, but I don't think that they can go after you without it being signed.
You need to get to the realtor BEFORE they give the contract to the potential buyer. |
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Vegan
|
You'll have to pay your lawyer for his/her time looking at it, and your realtor may charge you a fee.
But you can back out of it, yes.
If you're sure you want to pull out, let everyone know so they don't waste any more time.
Verbal offers are meaningless in real estate. |
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brother3
 |
You may, it happen all the time as long as the contract not sign you no need to give any reason.only you have to pay is your lawer fee.Because he should not work for you free.For the realtor base on the contract you sign with them when they. put you house on market...They may ask you to pay the commision. |
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walding714
|
Contact the real estate department of consumer affairs from your state |
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sylviavnpttn
 |
verbal is one thing- written contract is another, When contracts are in writing then it is binding, there will be no reprocutsicions because you have changed your mind is just that you changed your mind about selling. No big deal- don't sweat the small stuff-- you'll be OK. |
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slguldi
 |
With few exceptions, unwritten agreements for the sale or use of Real Estate are unenforceable. In most states, contracts for the sale or rental of real estate are, unless they are in writing, unenforceable under the Statute of Frauds. Verbal leases for up to a year are often acceptable.
Example: Abel agrees to sell property to Baker. Their contract is oral. Abel changes his mind. He faces no Penalty because oral contracts for the sale of real estate are unenforceable. So no excuse should be needed, you should be able to just rescind the offer |
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Joseph Sangl
 |
How good is your word? |
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EllenLouise
 |
Best to bale out now no matter what it costs. |
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open4one
|
You can back out of the contract, but you might owe your attorney a fee, and if it was an offer at the full price according to a listing agreement, your realtor's fee is earned as well. Whether or not they enforce that where you are is another matter, but you owe the realtor if it was full price. |
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CJ
|
You can backout of it but the parties concerned can come after you. The buyers for specific performance (you failing to uphold your end of the deal), and the Realtors for their commission (Realtors are due a comm. if they produce a ready, willing and able buyer. Some Realtors are cool and dont go after this, but they have every right to.) Some buyers may be cool and say ok, and just ask for their earnest back. |
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new rep
|
Did you sign a listing agreement or seller customer service agreement with your Realtor? If the answer is yes, then you might be liable to pay the commission owed if you've defaulted on a valid offer. Read clause 2 under commission of your agreement.
What is strange about your question is that you say the lawyer is already being sent a contract and you haven't signed anything.
The way it's supposed to work is that when you accept an offer, you sign the execution and acknowledgment of the signed copy of the agreement of purchase and sale, THEN that goes to your lawyer. It wouldn't go to your lawyer if you didn't sign it. |
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