Just wondering if it is possible for a vendor to pull out of a contract. I enquired on a house of which we were very keen on and emailed back the agent to organise a time to look through the property. He phoned me back to say the property was sold in less than 24 hours. We are a good customer of the agent and he got quite snippy at me when I asked the question of why he didn't inform me there was an offer on the house. I have since found out that the person that purchased the property is a valuer . To me the house was under priced by at least 50,000, sounds like a set up to me. Our offer would have been unconditional where as the other people have a condition. Is it possible for the vendor to pull out of the contract. Thank you
Generally, if both parties have signed the sales contract (ie exchanged), the vendor cannot retract their acceptance. If exchange has not occurred (and the contract has not been signed by the vendor), then the vendor is still open to offers.
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