The Truth About Sellers Backing Out - And How You Can Stay Protected in a Home Sale

"A seller can back out of a home sale, but only with a valid legal or contractual reason. Canceling without cause allows buyers to seek legal recourse."

"Once both parties sign a purchase agreement, it becomes legally binding. This means that neither party can back out just on a whim."

"Buyers typically have contingencies that allow them to cancel without penalty, while sellers have limited opportunities to back out and must adhere to specific contract terms."

"A few specific situations allow a seller to cancel legally, such as if the contract hasn't been signed yet or if a seller contingency is invoked."

Sellers can back out of a home sale if they have a valid legal or contractual reason, but doing so without cause may expose them to legal action. After signing a purchase agreement, both parties are bound by its terms. Buyers often have contingencies allowing cancellation without penalty, but sellers face more restrictions. Situations allowing sellers to cancel include lack of a signed contract and invoking seller contingencies. Understanding contract details is crucial to avoid complications in the transaction process.

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