seller query

meep-houseMay 10, 2009

Do I face any legal liability if someone makes an offer on my house, but then for family reasons I don't accept the offer but instead take the house off the market? Does it make a difference if it's a full-price offer? It's in New York.

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What is in writing? Just making an offer means very little, verbly, --was this thru a realtor?
But I have read that if it is a legimate family emergency you can pull the house off the market without a problem.

    Bookmark   May 10, 2009 at 5:38PM
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An offer is not even close to being a contract.
And a verbally accepted offer is not enforcable.
Happens all of the time.
Just happened to y client today... my Seller had a verbally accepted contract. The "buyer" got cold feet, and refused to sign.
Back on the market we go.

    Bookmark   May 10, 2009 at 9:04PM
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Depending on your agreement with your listing agent, you may owe commission if a full-price offer was made on your house that you did not accept.

    Bookmark   May 11, 2009 at 8:26AM
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what c9pilot says.

& that's just your liability to the broker;
if the buyer made a full-price offer, he/she/they may have legal rights, too.

    Bookmark   May 12, 2009 at 4:20PM
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Your broker could sue for commission because you hired him to find you a ready, willing and able buyer and that was done. This is only if its a full price offer, anything lower would get you off the hook. Your buyer most likely wouldnt be able to force the sale since you dont have a signed contract on just the offer. (*NY)

    Bookmark   May 12, 2009 at 9:15PM
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