Newsflash: We are sellers in a sticky situation. Want to cancel purchase agreement and fire realtor, but don’t want to get sued. [MI]

I’ll try to keep this as simple as I can, although I feel our situation is anything but simple.Our home was sold at sheriff sale earlier this year and we are still within our 6 month redemption period that Michigan has. We were approached by a real estate agent who “specializes” in transactions with our “situation”. We have a decent amount of equity in the home and after talking to the agent, we decided that our best option would be to sell the home.Here’s where things get, in my opinion, a bit shady. When we listed the home there were a couple of items that I heavily stressed to the agent that I did not want to include. He assured that it wouldn’t be an issue. His assistant emailed me a copy of the listing to correct or approve before it went online. I made the corrections to her for the listing and then they also said they’d be lowering the price by $20k so it would get more interest and showings and hopefully create a bidding war. Our first mistake was agreeing to the price change.The realtor left the home on the market for 5 days. In those 5 days we had 8 showings and one offer. As soon as the offer was in the agent was no longer interested in leaving the home on the market and we really feel like we were pushed into signing the contract. When we told the realtor that we weren’t comfortable taking the offer he got very angry. Said that he would pull the house off the market and jack up the price and it could sit there for all he cared and we could walk away with nothing. Again, we should have trusted our instinct.Previous to the showings, we literally spent every bit of money we had to get the house repainted and every little detail fixed. The realtor knows our financial situation, and really pushed for us to spend money we really shouldn’t have, especially by hiring his friend to paint.Our home is easily worth $40k more than what we listed and the original numbers that were agreed upon obviously, so that changes things for us financially as for what we were going to do once the house sold.Since an offer was made and agreed upon, we now don’t want to go through with the deal. I have a very close friend who has investment properties and offered to pay our redemption amount and land contract the home back to us. The payments aren’t unaffordable for us, it was falling behind due to some health issues and the inability to catch up.We had part of the inspection done this last week but the whole inspection wasn’t able to be done due to a power outage. I have tried to get in touch with my realtor and his assistant to see when the other part will happen and have not gotten a response.I’m probably missing other key details, but this is the short version. What can we do? Can we cancel the sale without fear of being sued by the realtors? We can’t afford to talk with an attorney, I’ve already called some in our area.

Read more at https://www.reddit.com/r/RealEstate/comments/6m26g3/we_are_sellers_in_a_sticky_situation_want_to/?utm_source=ifttt

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