My Articles | About Us | Contact Us | Advertise With Us | Search   
 
News, Tips & Offers delivered to your inbox

ABOUT US | VIEW ALL FEATURED ARTICLES | VIEW ALL TOPICS | VIEW ALL REGIONS | DM MOBILE | DM BLOG

Ask an expert: Seller backing out of contract New Jersey

Q: What happens if you’ve made an offer on a home and the seller suddenly decides not to sell?

Local Companies

Cooper Real Estate Manage
(973) 624-3300
55 Halsey St
Newark, NJ
Ryan Real Estate Inc
(973) 705-8888
1072 Bergen St
Newark, NJ
Faina Sechzer Princeton Real Estate
609-553-4175
220 Arreton Road
Princeton, NJ
seahorse enterprises
732-299-5923
Third Ave
Bradley Beach, NJ
Avalon Ready and Waiting / Home, Boat or Even Dinner Ready When You Arrive!
1-800-961-0415
Concierge Services Events Property Management,
Avalon, NJ
New Jersey Real Estate Guys
201-610-1010
1 Marine View Plaza
Hoboken, NJ
Applegate Real Estate Investment Group
(732) 501-6154
400A Spotswood-Englishtown Road
Monroe Twp., NJ
HOMETECH NJ INSPECTION SERVICES LLC
201 340 2104
49 Hedden ter 2 fl
North Arlington, NJ
Real Estate Consultants
973 726 9808
17 Woodport Rd
Sparta, NJ
Dressed 2 Sell Staging
856-524-0463
154 Cooper Rd.
West Berlin, NJ

provided by: 

A: In the case of most real estate deals, once you and the seller have signed a contract, neither party can back out without consequences. There are some contracts, however, that have clauses that allow a seller (or buyer) to cancel if certain conditions are not met.

Most conditions in a real estate contract are designed to protect the buyer. For example, you may make an offer conditional upon being approved for a mortgage, or pending a home inspection. If your financing falls through, or the inspector finds a termite infestation, these clauses allow you to get out of the deal without penalty.

Sellers may include similar “escape clauses” in the contract. In situations where a house is part of an estate sale, for example, the contract might state that the deal must be approved by other family members. If you accept this condition when you sign, the seller is able to back out if the condition isn’t met.

When a seller attempts to back out of a contract without such conditions, however, a buyer may be able to sue for financial damages. The buyer may even be able to get the court to order the seller to fulfill the terms of the contract. (The seller’s real estate agent, too, may be able to sue for his or her commission.) The specific consequences will depend upon the terms of the contract and the state you live in, but, in general, a seller is not entitled to renege because of a change of heart.

Buying a home is stressful enough without worrying about taking the seller to court. That’s why you should work with your agent and a real estate lawyer before you sign the contract, to make sure it does not allow the seller to back out for arbitrary reasons. If you do find yourself in this situation after the fact, contact a real estate lawyer immediately to determine your options.

Bill Yeager
Regional Vice President, Realty Sales

 

Published on January 12, 2007

Read full article at realestate.com

Featured Local Company

Cooper Real Estate Manage

(973) 624-3300
55 Halsey St
Newark, NJ
Read more about Ask an expert: Seller backing out of contract

Regional Articles
- Ask an expert: Seller backing out of contract Absecon NJ
- Ask an expert: Seller backing out of contract Asbury Park NJ
- Ask an expert: Seller backing out of contract Atlantic City NJ
- Ask an expert: Seller backing out of contract Barnegat NJ
- Ask an expert: Seller backing out of contract Basking Ridge NJ
- Ask an expert: Seller backing out of contract Bayonne NJ
- Ask an expert: Seller backing out of contract Bayville NJ
- Ask an expert: Seller backing out of contract Belle Mead NJ
- Ask an expert: Seller backing out of contract Belleville NJ
- Ask an expert: Seller backing out of contract Belmar NJ
- Ask an expert: Seller backing out of contract Bergenfield NJ
- Ask an expert: Seller backing out of contract Blackwood NJ
- Ask an expert: Seller backing out of contract Bloomfield NJ
- Ask an expert: Seller backing out of contract Boonton NJ
- Ask an expert: Seller backing out of contract Bordentown NJ
- Ask an expert: Seller backing out of contract Brick NJ
- Ask an expert: Seller backing out of contract Bridgeton NJ
- Ask an expert: Seller backing out of contract Bridgewater NJ
- Ask an expert: Seller backing out of contract Browns Mills NJ
- Ask an expert: Seller backing out of contract Burlington NJ
- Ask an expert: Seller backing out of contract Caldwell NJ
- Ask an expert: Seller backing out of contract Camden NJ
- Ask an expert: Seller backing out of contract Cape May Court House NJ
- Ask an expert: Seller backing out of contract Cape May NJ
- Ask an expert: Seller backing out of contract Carteret NJ
- Ask an expert: Seller backing out of contract Cherry Hill NJ
- Ask an expert: Seller backing out of contract Clark NJ
- Ask an expert: Seller backing out of contract Clementon NJ
- Ask an expert: Seller backing out of contract Cliffside Park NJ
- Ask an expert: Seller backing out of contract Clifton NJ
- Ask an expert: Seller backing out of contract Collingswood NJ
- Ask an expert: Seller backing out of contract Colonia NJ
- Ask an expert: Seller backing out of contract Cranford NJ
- Ask an expert: Seller backing out of contract Denville NJ
- Ask an expert: Seller backing out of contract Deptford NJ
- Ask an expert: Seller backing out of contract Dumont NJ
- Ask an expert: Seller backing out of contract East Brunswick NJ
- Ask an expert: Seller backing out of contract East Orange NJ
- Ask an expert: Seller backing out of contract Eatontown NJ
- Ask an expert: Seller backing out of contract Edison NJ
- Ask an expert: Seller backing out of contract Egg Harbor Township NJ
- Ask an expert: Seller backing out of contract Elizabeth NJ
- Ask an expert: Seller backing out of contract Englewood NJ
- Ask an expert: Seller backing out of contract Englishtown NJ
- Ask an expert: Seller backing out of contract Ewing NJ
- Ask an expert: Seller backing out of contract Fair Lawn NJ
- Ask an expert: Seller backing out of contract Flemington NJ
- Ask an expert: Seller backing out of contract Forked River NJ
- Ask an expert: Seller backing out of contract Fort Lee NJ
- Ask an expert: Seller backing out of contract Freehold NJ
- Ask an expert: Seller backing out of contract Garfield NJ
- Ask an expert: Seller backing out of contract Glassboro NJ
- Ask an expert: Seller backing out of contract Hackensack NJ
- Ask an expert: Seller backing out of contract Hackettstown NJ
- Ask an expert: Seller backing out of contract Haddon Township NJ
- Ask an expert: Seller backing out of contract Haddonfield NJ
- Ask an expert: Seller backing out of contract Haledon NJ
- Ask an expert: Seller backing out of contract Hammonton NJ
- Ask an expert: Seller backing out of contract Hazlet NJ
- Ask an expert: Seller backing out of contract Hightstown NJ
- Ask an expert: Seller backing out of contract Hillside NJ
- Ask an expert: Seller backing out of contract Hoboken NJ
- Ask an expert: Seller backing out of contract Holmdel NJ
- Ask an expert: Seller backing out of contract Howell NJ
- Ask an expert: Seller backing out of contract Irvington NJ
- Ask an expert: Seller backing out of contract Iselin NJ
- Ask an expert: Seller backing out of contract Jackson NJ
- Ask an expert: Seller backing out of contract Jersey City NJ
- Ask an expert: Seller backing out of contract Kearny NJ
- Ask an expert: Seller backing out of contract Keyport NJ
- Ask an expert: Seller backing out of contract Lakehurst NJ
- Ask an expert: Seller backing out of contract Lakewood NJ
- Ask an expert: Seller backing out of contract Linden NJ
- Ask an expert: Seller backing out of contract Livingston NJ
- Ask an expert: Seller backing out of contract Long Branch NJ
- Ask an expert: Seller backing out of contract Lyndhurst NJ
- Ask an expert: Seller backing out of contract Madison NJ
- Ask an expert: Seller backing out of contract Mahwah NJ
- Ask an expert: Seller backing out of contract Manahawkin NJ
- Ask an expert: Seller backing out of contract Manchester Township NJ
- Ask an expert: Seller backing out of contract Maple Shade NJ
- Ask an expert: Seller backing out of contract Maplewood NJ
- Ask an expert: Seller backing out of contract Marlboro NJ
- Ask an expert: Seller backing out of contract Marlton NJ
- Ask an expert: Seller backing out of contract Matawan NJ
- Ask an expert: Seller backing out of contract Mays Landing NJ
- Ask an expert: Seller backing out of contract Medford NJ
- Ask an expert: Seller backing out of contract Merchantville NJ
- Ask an expert: Seller backing out of contract Metuchen NJ
- Ask an expert: Seller backing out of contract Middletown NJ
- Ask an expert: Seller backing out of contract Millville NJ
- Ask an expert: Seller backing out of contract Monroe Township NJ
- Ask an expert: Seller backing out of contract Montclair NJ
- Ask an expert: Seller backing out of contract Moorestown NJ
- Ask an expert: Seller backing out of contract Morganville NJ
- Ask an expert: Seller backing out of contract Morris Plains NJ
- Ask an expert: Seller backing out of contract Morristown NJ
- Ask an expert: Seller backing out of contract Mount Holly NJ
- Ask an expert: Seller backing out of contract Mount Laurel NJ
- Ask an expert: Seller backing out of contract Neptune NJ
- Ask an expert: Seller backing out of contract New Brunswick NJ
- Ask an expert: Seller backing out of contract Newark NJ
- Ask an expert: Seller backing out of contract Newton NJ
- Ask an expert: Seller backing out of contract North Arlington NJ
- Ask an expert: Seller backing out of contract North Bergen NJ
- Ask an expert: Seller backing out of contract North Brunswick NJ
- Ask an expert: Seller backing out of contract Nutley NJ
- Ask an expert: Seller backing out of contract Ocean City NJ
- Ask an expert: Seller backing out of contract Old Bridge NJ
- Ask an expert: Seller backing out of contract Orange NJ
- Ask an expert: Seller backing out of contract Palisades Park NJ
- Ask an expert: Seller backing out of contract Paramus NJ
- Ask an expert: Seller backing out of contract Parlin NJ
- Ask an expert: Seller backing out of contract Parsippany NJ
- Ask an expert: Seller backing out of contract Passaic NJ
- Ask an expert: Seller backing out of contract Paterson NJ
- Ask an expert: Seller backing out of contract Pennsauken NJ
- Ask an expert: Seller backing out of contract Perth Amboy NJ
- Ask an expert: Seller backing out of contract Phillipsburg NJ
- Ask an expert: Seller backing out of contract Piscataway NJ
- Ask an expert: Seller backing out of contract Plainfield NJ
- Ask an expert: Seller backing out of contract Plainsboro NJ
- Ask an expert: Seller backing out of contract Pleasantville NJ
- Ask an expert: Seller backing out of contract Point Pleasant Beach NJ
- Ask an expert: Seller backing out of contract Princeton Junction NJ
- Ask an expert: Seller backing out of contract Princeton NJ
- Ask an expert: Seller backing out of contract Rahway NJ
- Ask an expert: Seller backing out of contract Ramsey NJ
- Ask an expert: Seller backing out of contract Red Bank NJ
- Ask an expert: Seller backing out of contract Rockaway NJ
- Ask an expert: Seller backing out of contract Rutherford NJ
- Ask an expert: Seller backing out of contract Sayreville NJ
- Ask an expert: Seller backing out of contract Scotch Plains NJ
- Ask an expert: Seller backing out of contract Secaucus NJ
- Ask an expert: Seller backing out of contract Sewell NJ
- Ask an expert: Seller backing out of contract Sicklerville NJ
- Ask an expert: Seller backing out of contract Somerset NJ
- Ask an expert: Seller backing out of contract Somerville NJ
- Ask an expert: Seller backing out of contract South Amboy NJ
- Ask an expert: Seller backing out of contract South Orange NJ
- Ask an expert: Seller backing out of contract South Plainfield NJ
- Ask an expert: Seller backing out of contract South River NJ
- Ask an expert: Seller backing out of contract Summit NJ
- Ask an expert: Seller backing out of contract Teaneck NJ
- Ask an expert: Seller backing out of contract Toms River NJ
- Ask an expert: Seller backing out of contract Trenton NJ
- Ask an expert: Seller backing out of contract Tuckerton NJ
- Ask an expert: Seller backing out of contract Union City NJ
- Ask an expert: Seller backing out of contract Union NJ
- Ask an expert: Seller backing out of contract Vincentown NJ
- Ask an expert: Seller backing out of contract Vineland NJ
- Ask an expert: Seller backing out of contract Voorhees NJ
- Ask an expert: Seller backing out of contract Wayne NJ
- Ask an expert: Seller backing out of contract West Milford NJ
- Ask an expert: Seller backing out of contract West New York NJ
- Ask an expert: Seller backing out of contract West Orange NJ
- Ask an expert: Seller backing out of contract Westfield NJ
- Ask an expert: Seller backing out of contract Westwood NJ
- Ask an expert: Seller backing out of contract Williamstown NJ
- Ask an expert: Seller backing out of contract Willingboro NJ
- Ask an expert: Seller backing out of contract Wyckoff NJ
Related Local Events
RealShare NEW JERSEY 2009
Dates: 10/22/2009 - 10/22/2009
Location: Teaneck Marriott at Glenpointe
Teaneck, NJ
View Details
23rd Annual Police Security Expo 2009
Dates: 6/23/2009 - 6/24/2009
Location: Atlantic City Convention Center
Atlantic City, NJ
View Details
23rd Annual Police Security Expo 2009
Dates: 6/23/2009 - 6/24/2009
Location: Atlantic City Convention Center
Atlantic City, NJ
View Details
Rate Article
     
Articles Insider
Rss   Delicious   Digg   Add To My Yahoo   Add To My Google   Bookmark   Search Plugin
Topics:
Advertising Family Home Services Real Estate Resources
Business Services Fashion Industrial Goods & Services Retail & Consumer Services
Career Financial Services Insurance Software
Cars Food & Beverage Internet Technology
Computer Hardware Franchise Legal Telecommunications
Construction Health Miscellaneous Trade Shows
Education Holidays Nightlife Travel
Entertainment Home Appliances Online Database Weddings
Environmental Home Electronics Pets World History
Articles.DirectoryM.com | Search | About Us | Contact Us | Mobile | Blog | En Español
Copyright © Interaction Media Group. All rights reserved.