an a seller break a sales contract?
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an a seller break a sales contract?
A few days ago I signed a contract with a buyer. The buyer now wants to renegotiate. The contract was written by the buyers agent. the house is for sale by owner, I have no agent currently. I just want to cancel the contract ASAP. Can I do that?
Asked on May 30, 2019 under Real Estate Law, Arizona
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
No, you can't break the contract, and they cannot force you to renogiate: you are both bound to the terms of the contract you signed. The fact that they want to renegotiate is irrelevant, since they have no legal power to force you to do so--you can hold them to the contract they signed.
The above said, if you and the buyer have both decided you don't want to go through with this, you can cancel the contract by mutual agreement: but you both must agree to do that in writing.
Note that if the contract has some "inspection contingency" or "inspection clause" in it regarding what can be done based on an inspection report, you and they have whatever rights or options that contractual provision gives you.
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