chip2001
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Legally you can still pull out without penalties.
But that's the bad thing about the English system, there's no obligation on either party until contracts have been exchanged.
You're going to upset a lot of people so make sure it's the right decision before you act. |
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Jay S
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When you say 'contract signing', are you talking about closing, or about the end of the contingency period? In either case, it sounds like you have a contract to sell. Therefore, not only pay his costs...you might get sued for damages (increased cost of a new house, rental, lawyers fees, etc), or they could sue to force you to sell. |
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snetterton
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Nope. You just pull out and leave them to it. Don't be surprised if he's not very pleased, though. |
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prudence
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yes you can because you haven't sign up any contract |
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amsterdam
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As contracts have not yet been exchanged, yes you can pull out now.
I truly despise people who do this. It will cost you nothing, but I would like to think you have a few sleepless nights, you worm. |
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Lord Onion
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You don't have to pay for it - but you should at leaast offer to pay half.
Remember, he knows where you live. |
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mortgage help
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if you have signed a contract, you must sell. |
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ogrendle
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If you have accepted the offer by signing then you are in a valid contract. If you just decide not to sell then you can be sued for non-performance and get hit with triple damages. If you are 2 weeks away from closing then it sounds like you do have a contract because no lender would go this far without one. If you refuse to sell I promise you that you will be talking to lawyers. What does your agent have to say? It is their job to protect you. You may also end up paying the commission plus triple damages.
You need a lawyer.
Good Luck |
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voodoobluesman
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No, you haven't entered into a contract with them yet.
You won't be on their Christmas Card list though, to say the least! |
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Bush Turkey
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No, you are legally free to withdraw from the transaction up until the exchange of contracts. The buyers may not be too impressed but at the end of the day if you no longer want to sell it's your choice. You will have to pay your own solicitors fees though. |
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mazziatplay
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You have signed a legally binding contract of sale. Be prepared for the possibility of a lawsuit for breech of contract not just to the probability of reimbursing the buyer for any out of pocket expenses and the Realtor fees, if any.. |
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cmsdking
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yes and and do more paper work |
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D B
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depends where you are living. If in Scotland the law is different to in England. have you exchanged contracts? If you are in England, if so you are liable to give him/her 10% of the agreed purchase price. If not nothing. However, I'm glad I wasn't buying off you . My daughter and her husband lost nearly £1,000 because the vendor suddenly changwed her mind. It's a pity they were not in Scotland. There you are liable . |
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Graham H
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You should pay his costs if you have any decency or fairness but if you are in the England it is not a legal requirement and you can back out prior to exchanging contracts. |
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John T
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First when you say contract signing that means you still have not signed any written offers. If so you could still back out and say that you don't think the price is right. The only downfall of that is you made a verbal acceptance. Depending on who your agent is and you lawyer you could still decline because you have not signed a written offer. Now your realtor can throw you under the bus because if you decline that means he will not make any money because the would not be a sale. In the court of law verbal acceptance is an acceptance of an offer as long as the buyer had a witness that you accepted their offer verbally. But if anything if you did not sign anything you are 85% safe from declining the offer and not pay his cost. Most buyer will move on and look for annother house because of all the hustle it will do if they try to pursue your house. So, you are safe from declining and from paying the buyers cost as long as you did not sign a written offer. |
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Angel
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You can pull out, but you will still have to pay your realtor. Your realtor found you a buyer and that was in their contract. As far as paying the potential buyers fees I am not sure, but I wouldnt be surprised if you were made to. |
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xXx Orange Breezer xXx
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You can pull out right up until the contracts are signed.....
You have to pay for the work your solicitor has already done, but you will not have to pay there costs unless they decide to pursue it in the small claims court, but the chances are they wouldnt win |
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Jo
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I am a real estate agent and I just sold my vendors property, I am so upset I have been trying to sell her place for a year, and found her a buyer who was going to pay top dollar and she let them pay for a pest and building, and she signed the contract but we were waiting on the 10% and contracts to be signed by the purchaser. Than she rang me and pulled out of the deal. I won't get any thing out of the deal, just a big waste of my life, the buyers also get the bad deal as they sold there place and have no were to go, and they are elderly. I think real estate agents should be entitled to something as all my time money and energy went to waste. I don't won't anything to do with my vendor anymore. |
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