If A Seller Gets Cold Feet Can He Back Out Of The Deal

Dated: 01/27/2015

Views: 639

If a seller gets cold feet, can he back out of the deal?

Question:  I accepted an offer on my house two days ago, but I’m worried that I won’t be able to find a new home. I’ve decided to stay put. How can I get out of this deal?


Answer: If using the Texas Real Estate Commission or Texas Association of REALTORS® contracts, sellers generally never have a right to terminate a contract once it’s been executed. The only right a seller has to terminate is when a buyer is in default. Under Paragraph 15 of both the TREC and TAR contracts (the Default paragraph), one of the options a seller can take if the buyer is in default is to terminate the contract and keep the earnest money.


From the TAR (Texas Association of REALTORS® Legal Staff 

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