Q: can a sellers agent back out of purchase agreement without filing proper documentation? Now accepting new offers
We signed a purchase and sales agreement in April. It was contingent on us selling our current home. The seller on the property we are under contract to buy gave us a time frame. We had our house under contract then the buyer backed out. Last we were told by the seller is that we would have 2 more weeks to have our house under contract which ends on 6/23/20. The sellers agent then emailed my agent saying that they would be considering backing out and then did back out. The original closing date was 6/12. The contract does say that dates can be moved if both parties agree. However the sellers agent never sent and formal documentation of their intent to back out, no binder return form, etc. She then reactivated the listing and raised the price. We were told to submit s new offer which we did. Now the agent is saying they will decide soon because of expecting more offers. Can she legally do this since our contract was never formally cancelled? Is an email notification legal?
A: It is notice of cancellation of the contract in writing. Nothing in standard Far/Bar contracts require specific forms be used. If you all could not close by the date on the contract stated for closing, then yes, they had the right to terminate the contract and an email is a writing.
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