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If a seller gets cold feet, can he back out of the deal?

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A small model of a house is cupped by pair of hands.

01/27/2015 | Author: TAR Legal Staff

I accepted an offer on my house two days ago, but I’m worried that I won’t be able to find a new home. I’ve decided to stay put. How can I get out of this deal?

If using the Texas Real Estate Commission or Texas Association of REALTORS® contracts, sellers generally never have a right to terminate a contract once it’s been executed. The only right a seller has to terminate is when a buyer is in default. Under Paragraph 15 of both the TREC and TAR contracts (the Default paragraph), one of the options a seller can take if the buyer is in default is to terminate the contract and keep the earnest money.

Have a question about buying, selling, or leasing property in Texas. Ask us. Not all submitted questions will be answered. 

Categories: Ethics, Research, Buyers, Sellers
Tags: legal, buyers, sellers, contract, forms

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The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.

While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on texasrealestate.com. Any legal or other information found here, on texasrealestate.com, or at other sites to which we link, should be verified before it is relied upon.

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