how to break a contract with buyer - Posted by Caroline Chaudhary

import · October 22, 2004, 4:17pm

Posted by jamie on October 29, 2004 at 11:01:33:

I assume the property is deeded in your name. Speak with another attorney. You’ve notified the buyer of your intentions not to sell. They cannot force you to sign a deed if you do not want to sell. They can then sue you for not honoring the contract, but they won’t get anywhere with it – you notified them 4 DAYS after you signed the contract

import · October 22, 2004, 4:17pm

Posted by Caroline Chaudhary on October 22, 2004 at 16:17:17:

i need to break my sales contract with the buyer but my attorney says only the buyer can back out of the deal. i have 4 kids and we will be homeless as we cannot afford another place. its a co-op i sold. its affordable (only 533 a month!). i cannot afford 1100 a month which is the cheapest place i found. i do not work. my husband is leaving the country only i didnt know this when i signed the contract. i signed the contract 2 weeks ago and have been trying since 11 days ago to break the sale. the closing is set for nov. 10! my broker sales person said he’ll buy me time til jan or feb. but that makes no difference cuz i still cant afford to live anyplace. please advise as to how to break the contract. i was under duress when i signed the contract.

import · October 30, 2004, 4:14pm

Re: how to break a contract with buyer - Posted by Natalie Smith

Posted by Natalie Smith on October 30, 2004 at 16:14:49:

I am not an attorney. If your attorney has reviewed the contract and tells you it’s too late to back out, he’s probably right.

No, they can’t make you sign the deed, but they can sue you for specific performance and force the sale. It does happen. Your contract might also force you to pay their legal fees if they win.

Your best bet is to “play nice” and try to appease the Buyers by buying them out of the deal. They have incurred expenses and you should pay them back. I see that money is an issue for you. Come up with an offer for them along with a payment plan. If you approach it in this manner, maybe they will see it your way and release you.

Good luck!