Legal Question in Real Estate Law in Pennsylvania

Re: Backing off from home sale

You asked about backing out of a real estate deal.

As long as the deal was entirely verbal then either side may back out. In other words, if there was no writing which was signed by you agreeing to the deal then the deal is probably not binding. But any aggregation of documents that shows an assent to the offer and which contains your signature may be considered to be a writing and may be considered to be signed by you.

You should definitely speak with a lawyer to who you can present the entire issue.

Also, depending on your contract with the real estate agent you may already owe the agent the commission on the agreed price. Often the agent is owed a fee once an agreement is reached. No matter if the transaction closes or even if the deal wasn't signed. The contract law that would allow you to back out of the property sale does not normally affect the contract with the agent or the fact that you will may owe the fee, even if the sale doesn't close.

Regards,

Roger