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John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Yes.  It was my buyer!  I had him write up why he wasn't buying the home.  Presented the termination at the 11th hour and apologized to the listing Realtor.  Cut ALL ties to the buyer. 

May 11, 2015 11:39 PM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Sally and David -- in California, during the inspection/investigation period of the purchase agreement, a buyer can cancel the transaction without giving a reason. Defect or no defect.  Issue or non-issue.  

May 11, 2015 10:57 PM
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

It got to be supported by a licensed inspector and validated by the realtor. I am a licenced professional engineer qualified to put my seal on building drawing. I over ride surveyor or other professionals. Last 20 transactions have been AS IS sale except for a home that got vandalized. 

May 11, 2015 11:00 PM
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Protections favor the buyer in the State of Florida, There is ALWAYS a way out for the buyer. Yes, they may pay a penalty, but attempting to compel them to do what they are unwilling to do ends up piling more cost and harm on the owner.

Then do what UBER does. When their drives pick up a bad passenger, they are able to 'rate' that passenger so when they call for a ride next time, they just may find themselves stranded.

The Urberfication of real estate. Imagine how that would change the landscape.

May 11, 2015 10:23 PM
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Buyer can cancel during inspection period - after that - if they cancel - most likely bye bye Earnest Monry...

Nov 23, 2017 02:05 AM
William Feela
Realtor, Whispering Pines Realty 651-674-5999 No.

No, but that is an interesting situation

May 12, 2015 10:04 AM
Chris and Dick Dovorany
Homes for Sale in Naples, Bonita Springs and Estero, Florida - Naples, FL
Broker/Associate at Premiere Plus Realty

Sure it has happened to me.  You move on.  No sense fighting over it, just get another buyer.  You can't force someone to buy a house and you can't force someone into selling one.

May 12, 2015 06:56 AM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

In Florida, if the offer were written on an As-Is contract and we were within the inspection period, there is nothing we could do, as the buyer has the right to cancel.  Otherwise, the seller could contest an issue that is untrue legally, if they are willing to spend the legal fees.

May 12, 2015 06:44 AM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

In Wisconsin we do not have an option period Beatrice Briseno. Great for you Sam Shueh. Good Move John McCormack...say buy if you are not buy-ing.

May 12, 2015 12:30 AM
Beatrice Briseno
RE/MAX Unlimited - San Antonio, TX
Beatrice M. Briseno, GRI, CDPE, San Antonio, TX

An option period gives the buyer an unrestricted right to terminate for whatever reason!

May 12, 2015 12:21 AM
Robert Smith
Preview Properties, PC - - Brighton, MI
SRES, Search for Homes Brighton-Howell-SE Michigan

Since they wanted to nullify and not re-negotiate, it sounds like a case of cold feet to me.  Do you really want to try to force them to proceed?  I like John McCormack's answer best.  The seller would be free to use legal recourse if they wanted to, but honestly, that's a no win for everybody-except the attorneys.

May 11, 2015 11:46 PM
Jeanne Feenick
NextHome Premier - Basking Ridge, NJ
The Agent you choose REALLY does make a difference

In cases like this, I would direct them to their attorney.  In my area of NJ, real estate attorneys are involved in transactions, and it is certainly moments like this that I am most grateful that they area.

May 11, 2015 11:16 PM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Sally K. & David L. Hanson Fortunately, I've never had this happen to me. I would ask them to prove it and back it up with professional expertise that there really is a problem. Might be time to consult with an attorney.

May 11, 2015 10:48 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Most often it is so they can re-negotiate the price. I usually get another opinion on teh item with an estimate to repair. The seller can then decide whether to fix, credit the buyer or say no.

May 11, 2015 10:37 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

It has not happened to me but if it did I would ask them to consult an attorney if they are trying to get out of a contract.

May 11, 2015 09:40 PM
Andrew Mooers | 207.532.6573
Northern Maine Real Estate-Aroostook County Broker

Get another opinion and / or fix something for the extra pound of flesh some try to squeeze. That can be like petty larceny but money is a dragon, two head monster for some.

May 11, 2015 09:08 PM