There are times with contracts in real estate where where buyer or seller feel that it would no longer be best to keep moving forward to closing. When that happens, it's important to pay very close attention to the contract details to see if that's possible without significant consequences.
What is Contract Termination?
What is Contract Release?
What are Examples of Grounds for Termination? Introduction
Examples in SE VA Where Seller May Terminate
Examples in SE VA Where Buyer May Terminate
Examples in SE VA Where Buyer or Seller May Terminate
Who Keeps the Earnest Money if I Terminate?
How Much Liability is There for Termination When I Don't Have Contractual Grounds to Terminate? That's Highly Dependent on the Contract, But May Exceed the EMD in Some Cases.
Is it Possible to Redact Language to Reduce My Liability or Use a Different Contract? Yes, But I wouldn't Recommend It at Time of Offer.
Option to Terminate Without Penalty Due to Technicalities
How to Lower Your Liability if You Want Out & Don't Have Contractual Grounds
Disclosure: I'm not an Attorney & Forms Change Over Time
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About the Author: Adam Garrett - 3rd Generation REALTOR®
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