Legal Question in Real Estate Law in Pennsylvania

Back out of Home purchase
We made an offer and the seller agreed with no other contingencies, since the real estate agent advised us that we needed to make this our ''best offer'' and since there were other offers being presented to the sellers. We gave them a deposit of $1,000 and she also advised us to include an additional deposit after 10 days to sweeten the deal.

We've now told the agent that we want to back out and told her not to deposit the additional check of $9,000. I stopped payment on this check just to be sure.

Now the agent is saying that the sellers are very upset and plan on sueing us for the full deposit amount. Or they may go after

The contract under the default portion has the boxed checked that the seller is limited to retaining sums paid by buyer, including deposit monies, as liquidates damages.

I told them I was willing to release the contract with the $1,000 and the seller refuses. The listing agent said to us ''we are screwed'' and that she refuses to put the house back on the market and she will not be showing it.

So, today I decide to drive by the house and the sold sign is gone and the agent is showing the house. I took pictures and documented the date.

Any advise or suggestions would be greatly appreciated.

Asked on 4/22/07, 3:35 pm

Glenn Brown Real World Law, P.C.

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Re: Back out of Home purchase

Were you represented by a buyer's agent or did you work with the seller's agent?

When did you tender the additional deposit and when did you advise the agent that you were not going to complete the deal?

An attorney would need to review the written agreement and some other facts to see if the buyer has a cause of action against you.

Good luck to you.

Answered on 4/22/07, 4:45 pm

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