Seller wants out of contract

[Jeffrey Baker]

Hello,

I currently have a property under contract with a motivated seller and I currently have a contract with a cash buyer.

The seller wants out of the contract due to wanting more money after their mortgage is paid off.

Is the seller able to pull out?

[Bryant Brislin]

Technically, no, sellers can't just unilaterally cancel a contract, but they could make things difficult as far as not doing paperwork that's needed, etc, even though technically that failure to perform is a breach.  You may want to try to work with them to see if you can get them a bit more money, to make them happy.  Or maybe change to a novation agreement where the seller participates in any type of upside from a flip.