Can i decide not to sell my building even after someone is willing to pay the listed price?

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Can i decide not to sell my building even after someone is willing to pay the listed price?

Listed price is undervalued by broker. Can I decide not to sell at that price?

Asked on May 23, 2019 under Real Estate Law, California

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

Unless an enforceable contract has been entered into, a seller is permitted to refuse any offer, including one that is for the full asking price. However there is an exception to this; a seller cannot refuse an offer if it is based on some form of legally actionable discrimination. In other words, an offer cannot be rejected based on a buyer's age (over 40), gender, disability, nationality, race, religion or other similar factors as set out in specific state law.

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

Yes, you can, so long as you have not already entered into a contract of sale. A seller is allowed to refuse any offer, including one at the asking price, for any reason that is not discriminatory (e.g. not based on the buyer's race, color, religion, etc.).


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