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Is a Pennsylvania home seller obligated to sell their home if the listing price is met?

In Pennsylvania if the home seller doesn’t sign an Agreement of Sale, they do not hold an obligation to the home buyer to sell their house, even if the home buyer offers the listing price or even above listing price. It is the home seller’s property and it is the home seller’s choice whether or not they want to sell their house. However, if the home seller has signed an Agreement of Sale and changes their mind, the home buyer may have some recourse, but the rights of the home buyer can vary from situation to situation. Please refer to the Agreement of Sale and consult a Pennsylvania real estate attorney.

Until there is a fully executed agreement of sale (meaning signed and dated with changes initialed by both buyer and seller) the home seller or home buyer has the right to back out. No logical reason is necessary or illogical one for that matter. The person most frustrated by a home seller changing their mind is the listing agent who spent time and money promoting the property only to see it taken off the market just when it could have sold.

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August 20, 2014 Posted by | Uncategorized | Leave a comment