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Seller wants to cancel "back out" of escrow

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roseofsd

Junior Member
What is the name of your state?What is the name of your state?

California

1. How can a seller of a residential private home (fsbo) cancel or terminate an existing escrow without

a) paying commissions to the buyer's agent
b) pay penalties to escrow
c) get sued by buyers and/or buyer's agent

2. Is there a timeline once in escrow that the seller DOES have to cancel or terminate?


3. If the seller DOES cancel escrow, and has several backup offers (for more than the original contracted price), can the seller go right into escrow with another buyer?
 


BradleyS

Member
These are pretty serious questions.....you need to see an attorney in your area about the contract..........the sooner the better....
 

Charles11

Member
A seller cannot unilaterally cancel a contract without legal reason. (For example, they can't cancel you solely because they have a higher offer waiting in the wings).

If the seller persists, it's attorney time for you...

Chas
 

HomeGuru

Senior Member
roseofsd said:
What is the name of your state?What is the name of your state?

California

1. How can a seller of a residential private home (fsbo) cancel or terminate an existing escrow without

a) paying commissions to the buyer's agent
b) pay penalties to escrow
c) get sued by buyers and/or buyer's agent

2. Is there a timeline once in escrow that the seller DOES have to cancel or terminate?


3. If the seller DOES cancel escrow, and has several backup offers (for more than the original contracted price), can the seller go right into escrow with another buyer?
**A: and what was the escrow agent's answer to your questions?
 

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