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If I signed a binding offer for real estate and the buyer backs out. Could the buyer come back later and try to enforce it? .?

I am the seller. I want to be free for other offers

12 Answers

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  • 4 years ago
    Favorite Answer

    If the current buyer would back out of any contract or offer this would normally be in writing. Once this has been done you are free to accept other offers on your property.

    If you are using a real estate agent for this sale transaction,your real estate agent would make sure the proper procedures would be followed.

    If you are not using a real estate agent you would want to make sure the buyer sign some form of document

    indicating there is no longer any interest.

    I hope this has been of some benefit to you, good luck.

    "FIGHT ON"

  • Dan B
    Lv 7
    4 years ago

    Short answer: No.

    Longer answer: Once you and the buyer agree to the selling price and you've both signed the agreement, you must sell and the buyer must buy (there are exceptions). If the buyer backs out in writing, you get to keep the earnest money. If he comes back, he's treated as a new buyer. One advantage of an agent that you employ is they will work to ensure the sale and protect your interests. But if you haven't received any other offers and you really want to sell, you could treat that buyer as if no withdrawal was exercised. It's your option.

  • 4 years ago

    They need to back out in writing and release.

  • 4 years ago

    Not once they back out.

  • tro
    Lv 7
    4 years ago

    if the buyer backs out that negates his bid, you should be free to pursue other sales offers

  • Judy
    Lv 7
    4 years ago

    not if he was the one who backed out. Be sure you have it in writing from him, signed

  • 4 years ago

    You will need to talk that over with a realtor in your area. If you do not have one. But since you have accepted an offer you are legally binding to that accepted offer. Until they do their due dilliagance and take the home it then is sold. The only other way would be to take it off the market.

  • 4 years ago

    Actually it is possible if the contract doesn't have an expiration date or there was a mutual agreement to void the contract.

  • 4 years ago

    If the buyer "backs out" pursuant to the terms of the contract make sure both parties sign cancellation and release. Once that's signed the buyer can't come back on you.

  • ?
    Lv 5
    4 years ago

    you have to give the person back there earnest money if they give it to you.

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