5,113,541
It depends on contract wording and state law... speak with a real estate attorney.
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Jessie Cochran
Panama City, FL
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Jennifer Mackay
Panama City, FL
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Allie Angeloni
Oro Valley, AZ
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Diana Zaccaro Broker A...
Cocoa Beach, FL
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Candice A. Donofrio
Fort Mohave, AZ
6,419,469
Point out that having the home sold will open up more future options, assisted living, senior housing, etc.
Your and your client's best course may be to continue with the agreement that they have committed to.
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Bob Crane
Stevens Point, WI
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Allie Angeloni
Oro Valley, AZ
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Diana Zaccaro Broker A...
Cocoa Beach, FL
5,061,034
I think it's attorney time
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Allie Angeloni
Oro Valley, AZ
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Diana Zaccaro Broker A...
Cocoa Beach, FL
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Nina Hollander, Broker
Charlotte, NC
1,056,778
A similar question was posed to our AAR legal hotline: could a buyer cancel a contract during inspection period solely due to a health issue? The answer was probably not because the cancellation would have to be a reasonable disapproval of something directly connected to the home itself. You're going to need an attorney for this one.
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Allie Angeloni
Oro Valley, AZ
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Lyn Sims
Schaumburg, IL
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Nina Hollander, Broker
Charlotte, NC
1,525,616
My best advice is talk to your broker or a real estate attorney.
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Allie Angeloni
Oro Valley, AZ
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Diana Zaccaro Broker A...
Cocoa Beach, FL
4,902,958
Best to talk to a real estate attorney.
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Allie Angeloni
Oro Valley, AZ
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Nina Hollander, Broker
Charlotte, NC
5,240,825
Yes you may have recourse through the language in the exclusive listing agreement. The buyer could sue for specific performance, but it is difficult to get a verdict! Best advice, seek the advice of an attorney with copies of all agreements in hand!
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Allie Angeloni
Oro Valley, AZ
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Nina Hollander, Broker
Charlotte, NC
1,466,257
Mary Rogal It's time to speak with a real estate attorney.
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Nina Hollander, Broker
Charlotte, NC
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Candice A. Donofrio
Fort Mohave, AZ
991,352
You're going to need a lawyer to answer that one for your state
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Jessie Cochran
Panama City, FL
3,986,308
Sure,but maybe a bit of compassion may be in order
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Greg Large
Grove City, OH
1,157,791
You should define abbreviations that are local to your area but not used in other areas. Read the Executed AOS to determine if recourse is available. Also, refer your seller to your seller's legal counsel for advice since this is outside the realm of a real estate agent's scope, at least in my area.
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Diana Zaccaro Broker A...
Cocoa Beach, FL
2,784,746
Yes of course...comfort and assure this person and let them know you are standing by to help at anytime. Remember: It is not what one has but how he came to have it. The is more going on than contracts in the Real Estate world
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Allie Angeloni
Oro Valley, AZ
1,847,051
Love it when you expect everyone to know what an AOS is.
In IL, they could be sued for specific performance. Court forcing the seller to complete the sale.
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Diana Zaccaro Broker A...
Cocoa Beach, FL
4,800,132
5,028,224
1,624,853
What state you are in? Are all contingencies removed? Health issues sounds serious and if they need to cancel, they can back up any time. Yet, they might loose money( liquidated damages, 3% in CA) if all contingencies are removed.
1,506,163
Best check with an attorney there. Sellers can't just change their minds like buyers can.
232,019
Time to call a local real estate attorney Mary - good luck with that. IMO though, even if you do have recourse, are you sure you want to hold someone in poor to the contract?
Think what would happen if the shoe was on the other foot!
97,866
Hi, Mary Rogal, welcome to ActiveRain. You have a valid question there, and got some good answers. I just wanted to say that although there was some frustration about the AOS abbreviation, you were watching and fixed it right away.
Please do not think we are unforgiving, because this is a great group of people, a very positive bunch...and you have owned the mistake (minor as it was). I hope you will let it go and allow yourself to ask other questions. It's not as though we don't make any mistakes, lol! : )
1,728,256
1,617,916
3,071,489
7,864,476
913,568
Seller might want to consult with an attorney. Maybe a release can be negotiated. Maybe EMD can be returned to buyer, and buyer will understand situation and find another house? If I was sellers agent, I wouldn't charge anything.
4,319,773
Mary Rogal - some good suggestions - and the best one I think is, check with the attorney.
2,443,250
716,032
So much depends on the contract. In Oregon, the seller does not have any backouts. However, asking the buyer to accommodate a true need may have success.
3,742,070
2,224,473
3,988,013
A contract is binding and to see if there is recourse for breach have an attorney advise your client. Never render a personal opinion.
902,038
It might be covered under "force majeur" if applicable. Consult an attorney.
5,583,328
1,092,947
That is a legal question and the answer will vary from state to state. Time to gather all your documents and meet with a good real estate attorney.
1,712,776
2,145
Sorry if I offended anyone. Not thinking that all of the states refer to things differently. In our area of Pa., it is commonly referred to as an agreement of sale. Thanks for all the advice. I do have a call into a Real Estate Attorney for their opinion.
1,241,879
Doctors letter and justify reason, can not afford due to loss in income etc.
4,582,734