Legal Question in Real Estate Law in Minnesota

We signed a purchase agreement, only to find out that another offer was in the works that was better. How long do we have to break that contract and pursue the second offer. We feel that we were strong-armed by our agent.

Please help. Once a contract for a home is signed what does it take to pull the home off the market, or if it is signed is it a done deal?


Asked on 9/04/09, 10:37 am

1 Answer from Attorneys
Maury Beaulier612.240.8005 Minnesota Lawyers

There is no recission period for a real estate purchase contract. Once the purchase agreement is signed, you are committed to the contract terms unless an inspection results in issues that invalidate the contract.

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Answered on 9/10/09, 10:02 am


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