Back to site

©2024. All rights reserved.
Crafted by 4Property.

Can a seller change their mind after accepting an offer?

,

Learn more

Residential Sales – Selling Your Property

Yes, either party can still change their mind and back out. In Ireland, a property is “sale agreed” once an offer is accepted and the buyer has paid a booking deposit to the estate agency.

At this stage, nothing is legally binding. The agreement is “subject to contract”. This is the start of the legal process. Legally, either party can back out, usually without penalty.

However, both parties have given their word (in pre-digital times would have shaken hands) and, as a matter of honour, are morally bound to complete the transaction unless unforeseen matters arise.

Suppose the seller decides to cancel the deal and accept a higher offer from another buyer simply out of greed. In that case, this is called “gazumping”, which is legally permitted but considered morally reprehensible.

It is also unwise, as, in our experience, the new buyer may have a lower moral standard and is less likely to complete the purchase. Once signed contracts are exchanged, legal enforcement becomes possible.

Phil Thompson

Phil Thompson, Sales Director

A ‘Home Value Maximization Framework‘ is the most effective way to get the best price for your home in 2024

What Phil’s happy customers say …

“…which literally added tens of thousands to the price achieved

RICHARD CULLEN

We achieved a sale price far in excess of what we expected

CIAN O’HERLIHY

“… helping us achieve the best possible result for the sale

JOSEPH CADDEN

Let our Sales Director Phil Thompson show you how he deploys his high-performing framework to boost the sale price of your home in just a 10-minute phone call.  

"*" indicates required fields

Name*
When do you wish to sell?*
Hidden
Hidden
Hidden
This field is for validation purposes and should be left unchanged.

By submitting this form you agree to our privacy and cookie policy

There is no obligation to engage our services once you receive your property consultation from Phil

Privacy Policy

Pagespeed Optimization by Lighthouse.