Legal Question in Real Estate Law in Florida
can you cancel a contract once you've signed it
My husband and I signed a contract on a house yesterday. Today we were reading the newspaper and found a house that is more like the one we want. Is there any way of getting out of our contract?
2 Answers from Attorneys
Re: can you cancel a contract once you've signed it
A contract is a binding instrument between two or more parties. There may not be a way to cancel this agreement. Would you like it if the Seller was able to cancel if he/she was offered a higher price from another potential Buyer?
That being said, there may be a way to cancel your contract. I strongly suggest that you meet with an experienced real estate attorney to see if there are any contingencies which may give you an out from the contract. I am unable to answer questions regarding an instrument which I have not read. It will be well worth whatever fee you may have to pay.
Scott R. Jay, Esq.
Re: can you cancel a contract once you've signed it
Odds are you cannot cancel the contract, but without reading it there's no way to say for sure. Consult with a real estate lawyer to learn whether there's an escape provision that allows you to unilaterally cancel the contract without liability. Time is of the essence so do it immediately.
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