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Updated over 5 years ago on . Most recent reply
When Can I Back Out of a Deal?
I have a quick question. On July 11 I received an offer on a SFR property I put up for sale. In the agreement it states that close of escrow shall be within 45 days. It's been well over 45 days at this point and we are still not closed so I am curious if I can legally withdraw the offer. I'm not seeing anything else in the agreement that clarifies when the deal can be withdrawn or what legal reasons I can do so. Any help is greatly appreciated, thanks.
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#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
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#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
Yes, you can. Some states may require you give them some sort of “notice to perform” with 3 days or so to close....in some states, you’d simply notify the the contract is terminated due to a breach/failure to close on their part.
Do you know if this was real buyer, or a who,sealer trying to flip it? Has there been any communication from the buyer?