Can I back out of a signed contract agreement?
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Can I back out of a signed contract agreement?
My real estate agent sold my property at the bottom end of my asking price and
accepted/signed for me when I couldn’t be reached. Although it was within my
price range although the bottom, I’m kind of upset, what can I do ?
Asked on October 4, 2017 under Real Estate Law, Alaska
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
Did you give your realtor the power to accept for you? Realtors do NOT automatically have that power; normally, the seller him/herself must accept the offer. If you gave the realtor the power to accept offers for you, either generally or as long as they were withing your range, you are bound to the offer, because you delegated the power to accept it. If you did not give the realtor this authority, however, you are not bound--person A cannot bind person B without person B's authority or consent. In that case, you could get out of the contract and the buyer could sue the realtor for any losses or costs this caused them.
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