It’s not often that someone would change her mind after listing her home and accepting a buyer’s offer, but life happens.
Depending on the contract, you may or may not get out easily, but here are some contractual and non-contractual factors and obligations you need to consider, according to Bankrate:
- Why did you change your mind?
- Generally, you can’t rescind for no reason
- Buyer’s sunk costs up to that point (for which s/he may be entitled to compensation — by you)
- Other parties — listing agent, buyer’s agent, home inspector, appraiser, lender — may ask you to compensate them for work already done
- What does the contract say?
- What does your realtor say?
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