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Updated over 5 years ago on . Most recent reply

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23
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Brian Miller
  • Bolingbrook, IL
4
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23
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Seller doesn’t wants out of signed contract

Brian Miller
  • Bolingbrook, IL
Posted

Hello BP,

I wanted to know if a seller can back out of a signed contract? What should a buyer do if the seller gives the buyer a cancellation letter from there attorney, in the state of Illinois? Please let me know thanks!

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6,130
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Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
5,071
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6,130
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Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
ModeratorReplied

Not much you can do, you can't force them to sell.  You can sue for non-performance but that is limited to actual damages, your inspection fee, lawyer, ect.  Usually not worth it and considered the cost of doing business 

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Second City Real Estate
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