Diane in Va here , we have decided not to sell our home and someone has a ratified contract on ours how do I get out of it

UPDATED: May 30, 2009

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Diane in Va here , we have decided not to sell our home and someone has a ratified contract on ours how do I get out of it

Asked on May 30, 2009 under Real Estate Law, Virginia


MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 13 years ago | Contributor

Oh boy -- you have a signed agreed to purchase and sales agreement? This is going to be tough. Read it over -- you may suffer some repercussions from it -- moneys lost or that you have to pay or  depending on the contract and the buyers, you may be forced to sell.  Not sure.

You need to sit down with your broker and figure out your options because only he or she actually has the luxury of having the contract and how far along you are in this process.

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