Accepted purchase offer, is the real estate agency responsible if the seller retracts?

Rochelle Rochelle 077 oct 2018

It may happen that a seller, who has mandated a real estate agency for the sale of his accommodation, retracts after accepting a purchase offer.In this case, did the seller have the right?What are the responsibilities of the real estate agency vis-à-vis the buyer?

What is a real estate purchase offer?

The purchase offer is an act by which a buyer makes a proposal to the seller whose real estate he wishes to buy.In this purchase offer, the buyer therefore offers the seller to buy his property at a price that can be the price set by the seller or a lower price.The purchase proposal can be verbal, but in this case, it has no legal value because it is difficult to prove.It is therefore advisable to always formulate an offer of purchase in writing in order to keep a trace of it and to prove its existence if necessary.From the moment the seller accepted, he can no longer return to his decision.

Good to know

A purchase offer must be written and signed by the seller and the buyer.

The real estate agency is not responsible if the seller retracts

If the seller decides to withdraw after accepting an offer to purchase, the real estate agency is not responsible for it, because its responsibility is only engaged if it commits directly to the Mandant, namelyseller.As such, the obligations of the real estate agency are limited to certain missions:

In the same vein, the real estate agency cannot be penalized for exceeding powers, for an offense committed in the execution of its mandate or in the event of violation of its duty of advice.But when the seller decides to withdraw when he is not entitled, the real estate agency cannot be held responsible.

The seller retracts, justice can force him to sell his property

If a seller who has accepted a purchase offer wishes to withdraw, it is generally because he found a candidate for the acquisition who offers him to buy his property at a price higher than that he accepted inthe purchase offer of the initial buyer.This is therefore the case where the seller initially accepted an offer at a price lower than that which was fixed, and he wishes to break the commitment with the first buyer in order to accept a more advantageous offer for him.But however, the seller cannot escape his commitment.Unlike the buyer, he does not benefit from a withdrawal period, and his acceptance of the offer is worth firm commitment.By retracting, he therefore takes the risk that the buyer will enter justice, because in this case, the judge may oblige the seller to sell his property to the buyer whose offer he accepted, at the agreed price in the latter.

Good to know

The seller has the right to refuse a purchase offer but if he accepted it, he cannot return to his decision.