Legal Question in Real Estate Law in Florida

can you cancel a contract once you've signed it

My husband and I signed a contract on a house yesterday. Today we were reading the newspaper and found a house that is more like the one we want. Is there any way of getting out of our contract?

Asked on 3/24/02, 8:52 pm

2 Answers from Attorneys

Scott R. Jay Law Offices of Scott R. Jay

Re: can you cancel a contract once you've signed it

A contract is a binding instrument between two or more parties. There may not be a way to cancel this agreement. Would you like it if the Seller was able to cancel if he/she was offered a higher price from another potential Buyer?

That being said, there may be a way to cancel your contract. I strongly suggest that you meet with an experienced real estate attorney to see if there are any contingencies which may give you an out from the contract. I am unable to answer questions regarding an instrument which I have not read. It will be well worth whatever fee you may have to pay.

Scott R. Jay, Esq.

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Answered on 3/24/02, 9:20 pm
Peter Gonzalez Sanchez-Medina, Gonzalez, Quesada, Lage, Crespo, Gomez & MachadoLLP

Re: can you cancel a contract once you've signed it

Odds are you cannot cancel the contract, but without reading it there's no way to say for sure. Consult with a real estate lawyer to learn whether there's an escape provision that allows you to unilaterally cancel the contract without liability. Time is of the essence so do it immediately.

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Answered on 3/25/02, 11:40 am

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