Hobart, IN asked in Real Estate Law for Indiana

Q: I signed a contract as the seller in Indiana. I now do not want to sell. What do I do?

It was signed 2 days ago. Have already asked buyer if they would reconsider. As of right now it doesn't look like they will.

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1 Lawyer Answer
Michael R. Smith
Michael R. Smith
PREMIUM
Answered
  • Indianapolis, IN
  • Licensed in Indiana

A: This answer may be a bit late but. . . . based only on the facts you've given, and assuming the contract is valid and created a binding obligation for you to sell, it seems you have to possibilities: (1) Go through with the sale. (2) Try to negotiate a resolution with the buyer which will likely require that you pay the buyer some money. In most cases, a court will not order a party to actually peform the contract but, instead, will order the breaching party to pay damages. Contracts for the sale of real estate are an exception, and the buyer could likely get a court order requiring you to go through with the deal -- unless you negotiate some other resolution.

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