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Updated over 5 years ago on . Most recent reply

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Alysha C.
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Seller backing out after Inspection contingency signed

Alysha C.
Posted

Hello, 

I am wondering if a seller can back out of a deal after a agreed upon repair list was signed when one of the repairs is turning out to be more than anticipated? I am in Wisconsin if this helps. 

Thank you for any advice. 

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Jacci Konkle
  • Real Estate Coach
  • Appleton, WI
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Jacci Konkle
  • Real Estate Coach
  • Appleton, WI
Replied

I'm not an attorney, but a contract is a contract.  If they agreed to the sale price and they signed an amendment in concordance with an inspection report within the dates and times of an inspection contingency to do the repairs, then they must fulfill that contract.  Now, that's the black and white...the grey is this...if they back out, all you can do is sue for specific performance.  You'll likely win, but it could take forever!  During that time, they will not be allowed to sell the home to anyone else, so it might pain them.  However, you won't really be able to move on very well either.  In the end, if they just insist on being a pain in the butt, your best bet might be to bite your tongue, get your earnest money back, and move on.  But not knowing how long this has gone on or really anything else about the whole situation, I am certainly not in a place to give advice.  If you're working through a Realtor, have your agent get their broker to talk to the listing broker and see if they can shake some sense into this seller.  You can also contact an attorney and just have them write a letter.  Many times, people wake up and see the light when an attorney puts the threat of a lawsuit in writing.

Good luck in your endeavors!

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