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Can a seller back off from an accepted offer?

by alexandra.glip50 from San Juan Capistrano, California. Nov 5th 2015 Reply


Jesse Stroup (jessestroup)
#199 ranked lender in California - 591 contributions

Yes they can; if the buyer does not meet the agreed points on the purchase contact.

Nov 5th 2015
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Chris Neuswanger (mtnmortgageguy)
#95 ranked lender in Colorado - 84 contributions

You need a lawyer to guide you through this one, generally you can only back out if the buyer defaults in meeting certain deadlines in the contract. Generally the buyers default only if they don't close on time. Trying to terminate this on your own is a risky path.

Nov 5th 2015
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Mark Hemingway (SFSLend)
#1 ranked lender in Colorado - 569 contributions

It is difficult for a seller to back out of an accepted offer unless dates and other requirements are not being met. It is best to talk with the managing broker for the realtor you are using. The inspection is one area where you could get out of it if there are enough things that you both cannot agree upon. But again best to talk to someone that understand real estate in CA

Nov 5th 2015
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,933 contributions

Laws vary from state to state.. but here in AZ.. no.. they cannot just back out for any reason..If the buyers come back after the accepted contract and want to negotiate certain property deficiencies, then the seller is not obligated to do any of those items, and if the buyers walk as a result, then oh well.. But, If the buyers do not meet certain contractual deadlines, then yes.. there's a process called "Notice to Cure" that has to be adhere'd to, otherwise, they are stuck.. The best source to find out what the laws are in your state would be your real estate agent, the title agent, or an attorney.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Nov 5th 2015
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Derick Condron (rightstartoregon)
#32 ranked lender in Oregon - 597 contributions

There is a lot more to this one. I would contact a real estate law professional with all the details.

Nov 5th 2015
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