From: Mark 
Newsgroups: misc.consumers.house
Subject: Re: Rebid on house after seller changes mind
Date: Tue, 17 May 2005 11:33:47 -0400

Until you actually sign papers at the closing, a seller or buyer can back
out.  Deposits may be lost, but there is no law that will force a buyer to
buy or a seller to sell until the paperwork is signed that actually
transfers ownership.

Yea, it is that simple.


On 17 May 2005 07:27:18 -0700, sugandha_g@yahoo.com wrote:

>Our realtor has given us our 1000 $ deposit she had in escrow and
>washed her hands off. I asked her the same thing, how could they do
>such a thing once we had a signed contract - her reply was the same
>till we finish closing the seller can change their mind anytime.She
>then added she had not seen this happen too many times maybe 2 times
>before in her career. Maybe in NJ the laws are kind of lax . Anyways ,
>thats in the past, and we think if we do go back to the owners, we
>should get a new attorney to help us out. The prev attorny was
>recommended by our realtor and we can all see how competent the pair of
>them was :) .
>
>SG
>Travis Jordan wrote:
>> sugandha_g@yahoo.com wrote:
>> > Thanks for all the replies - I meant the seller changed their mind
>-
>> > that was a typo. We had a signed contract  ie they accepted our
>offer
>> > and had even faxed it to their attorney and we were in the attorney
>> > review phase.Our attorney said that the seller can back out without
>> > giving any reasons and did not provide us with any more help or
>> > suggestions beyond it.
>>
>> Sounds like there is an escape clause in the contract that allows the
>> seller to back out.  What credible realtor would allow their buyer to
>> sign a contract like that?  What did your real estate agent say about
>> the transaction?