What Can You Do if the Seller Backs Out?

Adam Ettenson Real Estate Leave a Comment

This article provides a brief summary of the steps you can take if a buyer is in contract to purchase property and the seller decides he or she doesn’t want to proceed with the transaction. Although from the New York Times, and therefore the context relates to New York, the principles remain the same in any region of the U.S. The basic premise of the article is that the seller cannot unilaterally back out of a contract as allowing this would undermine the entire reason to have a contract in the first place.  “A seller cannot merely change his mind and elect not to sell,” said David A. Kaminsky, a Manhattan real estate lawyer. “That is the whole point of having a written contract.”

Please keep in mind that this article does not constitute legal advice (and I do not practice law although I am an attorney.) For legal advice, please consult with a qualified expert in the legal area for which you seek advice. I know several excellent attorneys. Please do not hesitate to contact me if you require referrals.

 

 https://www.nytimes.com/2017/01/14/realestate/what-to-do-if-the-seller-backs-out.html?rref=collection%2Fcolumn%2Fask-real-estate

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Adam Ettenson

Adam Ettenson, Real Estate Broker. Recovering Attorney. Passionate about real estate, the community, and the environment. Living, eating and breathing all things real estate since 2004.