Understanding 🤔 the Challenges of Backing Out of a Home 🏡 Sale as a Seller💲in L.A. and Beverly Hills, CA
By Christophe Choo Posted Apr 24, 2023 Beverly Hills, client recommendations, Featured, Latest Updates, Real Estate News, Videos
Understanding 🤔 the Challenges of Backing Out of a Home 🏡 Sale as a Seller💲in L.A. and Beverly Hills, CA | Christophe Choo at Coldwell Banker Global Luxury is Your Local Real Estate Expert
As a seller, it can be difficult to back out of a home sale once you've signed 🖊️ the contract. Unlike buyers who have contingencies to where they can back out of a sale, sellers don't have many options to get out of the sale. If a buyer starts renegotiating the price 💵after inspections, you can refuse, but otherwise, you're obligated to perform to the terms of the contract. If you decide you no longer want to sell, 😱 a buyer can file a specific performance lawsuit to force you to perform. It's important to understand the challenges and obligations of a home sale contract before signing.