Can I back out of a signed contract agreement?

UPDATED: Oct 1, 2022

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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


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 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.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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