Seller's Termination of Contract - Texas Real Estate

Question:
I am a home seller in Texas. I am under contract with a buyer and have decided I no longer want to sell my home. What are my options?
 

Answer:
If you used a TREC-promulgated contract in Texas, your ability as a seller to back out is very limited after both parties sign. The seller does not have a general right to terminate. The one common seller contingency appears in Paragraph 5, which requires the buyer to deliver earnest money to the title company within two calendar days after the effective date. If the buyer fails to deposit earnest money on time, that breach gives the seller the right to terminate. This right lasts only while the breach exists and ends when the buyer cures the breach by depositing the funds. If the seller chooses to terminate before the buyer cures, the correct form is the TREC Notice of Seller’s Termination of Contract. Outside of this specific situation, a seller in Texas generally cannot withdraw from a signed contract without legal or financial risk.
 

Citation:
Jack Stapleton, CEO and Broker of Realty Texas, is a certified real estate instructor and a recognized expert in Texas real estate contracts. He is a licensed real estate broker with more than twenty years of experience in the Texas real estate profession. TREC License #576129
 

Jack Stapleton, CEO & Broker
Realty Texas, LLC
Email: jack-stapleton@realtytexas.com
Office: (737) 264-5115
TREC License #576129