Legal Question in Real Estate Law in Illinois

Cancelling Contract

I need help. I'm selling my home and accepted a contract from a buyer. The contract was signed by myself while I was ill, and my husband. It was signed apprx 2 weeks ago. The closing is set for around Dec 30th. Credit for minor repairs is to be paid to the buyer at closing. How do I get out of this contract. We have changed our minds about sellling to the potential buyers. What do I do now?? Please help.


Asked on 12/22/04, 10:07 am

1 Answer from Attorneys
Thomas Moens Moens Law Offices, Chartered

Re: Cancelling Contract

Sorry, you don't just cancel a contract because you "changed your mind." If this was possible, what would be the point of signing contracts? By the same token, let's say you HAD to sell your house--maybe you had purchased another or you were relocating. I'm sure you wouldn't want the buyer to be able to just say, "Oh never mind, we don't want the house anymore." When you sign your name, you are obligated to perform.

Read more
Answered on 12/23/04, 8:58 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in Illinois