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All Forum Posts by: John Faarup

John Faarup has started 1 posts and replied 1 times.

Post: Is a mutual release always necessary?

John FaarupPosted
  • Portage, MI
  • Posts 3
  • Votes 3

If a contract has been signed (I am the seller) but no action was taken by the buyer (never sent a mortgage commitment, never did the inspection, etc) is it required a mutual release be signed by both parties before I can enter in an agreement with another person for sale of the home? The buyer broker just stopped answering my calls and emails even though I have asked him multiple times to send a mutual release.

The EMD is being held by the buyer broker (I am the listing broker) so I am not concerned about the dispersal. I've just never been in a situation where someone wouldn't sign one or simply stopped communicating. For all intents and purposes the contract is void because of the unfulfilled conditions, correct? Does that still necessitate a mutual release be signed?