Legal Question in Real Estate Law in Maryland

My relocation fell through and we no longer want to sell our house. We currently close June 27, 2014....do we have any options?


Asked on 5/31/14, 5:45 pm

1 Answer from Attorneys

Cedulie Laumann Arden Law Firm, LLC

To fully answer your question an attorney needs to see the actual contract at issue which should describe any legal basis for either party to "get out."

Generally, however, standard real estate contracts in Maryland do not give a seller a chance to change their mind. Once the contract is signed usually the seller must perform. If a seller refuses to go through with a contract without a valid (legally recognized) excuse, the buyer can sue the seller to force the deal, a scenario that usually winds up costing the seller far more and prolonging the inevitable.

Your question illustrates why it is a good idea to have a contingency clause in any situation where a party might not want to consummate the sale if something else doesn't happen. Of course if the Buyer is also having second thoughts it may be possible to negotiate a termination.

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Answered on 6/02/14, 5:56 am


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