[gcruse]

I should have specified I am in Florida, not Georgia. I just went through a purchase last month, and my realtor told me that, until the papers are signed at closing, it isn't a done deal. The seller cannot change the terms of the deal willy nilly, but they can walk away if they choose.

[patent]

>>>>my realtor told me that, until the papers are signed at closing, it isn't a done deal.

I'm not familiar with Florida law, but that would be a major departure from standard Real estate law. For what its worth, if you are ever in a situation where it matters, I would seek advice from someone other than a real estate agent, usually an attorney. I'm only on my second house (third transaction) and so far 4/6 agents involved have made major legal misstatements. At least one of the agents knew it was wrong and was lying to me. (He also claimed to not have a copy of the agreement-the one he had just stuffed out of sight into his pocket) If these guys didn't have standard forms to follow they wouldn't be able to actually get a deal done.

patent

[JoeFromCA]

Don't rely on a real estate agent for legal advice. His advice that the deal isn't done until the final papers are signed was wrong. R.E. agents don't know jack s..... (or diddily squat, as my Mama used to say).

Not only do they not know the law, most are chickens. The seller tried to back out on the sale of the house I'm sitting in right now, after the contract was signed. I jerked him up by the short hairs and had the house in a week. The real estate agents involved were appalled that I was so aggressive, but I was right.

Buyers are usually the ones to renege, not sellers, which is one reason so few people know the rules on this issue.

[longtermmemmory]

NO NO NO. Not if you have a valid contract. Each of the South Florida, Daytona, Osceola, and Tampa area counties have standard contracts which INCLUDE a specific performance clause. The seller CAN NOT just back out without penalty or specific performance UNLESS the parties included a differnt penalty in the contract. The closing is just the time when the transfer of title takes place. The contract is when you name hits the deal.

I have had to deal with "seller's remorse" for clients but generally experienced attorneys and agents on both sides have avoided legal entanglements.