Got real estate cold feet? Occasionally, we’ll have clients who list their home for sale, receive strong offers, and decide they may not want to sell after all. In fact, sometimes this happens even when the offer is higher than the asking price!
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The short answer is that you’re never required to sell your home as long as you haven’t accepted an offer in writing. For example, if you list your home with an asking price of $200,000 and you receive an offer for $205,000, you’re not required to accept. However, be sure to check your listing contract with the real estate agency, because many agreements state that you still owe your real estate agent a commission if you get an offer for the asking price or higher.
If you have signed an Agreement of Sale, you are required to sell your home. If you choose to not sell for whatever reason, the buyer can sue and require you to sell. We always encourage our sellers to think carefully before accepting an offer! If you have any questions regarding the terms of the offer, be sure to speak to your EveryHome agent for individualized assistance.