I signed a real estate contract and now I want cancel?

[Gabriel_R]

I had a my home for sale and I accepted an offer. Now I have sellers remorse I want to cancel it. I told my realtor about it and she said I could get sued for her commission (5%). Also the buyers can take legal action. The buyers already did an inspection. I am willing to give them the money for the inspection but I am afraid that my realtor will sue me. Can she really sue me? What should I do?
Thanks!
Can I talk to the buyers and explaint to them my situation or it is ilegal to talk to them?

[acermill]

Yes, the real estate agency can sue to collect its commission.  It did its job, in finding you a buyer who gave you a satisfactory offer.  As well, the buyers can sue for specific performance of contract and for expenses they may have incurred due to your change of mind.  I suggest that, if you REALLY insist on keeping this house, you attempt to negotiate an agreeable settlement with all parties involved.  It will cost you monies, but will be FAR less expensive than what you incur should you be sued.

If they take this to court, they WILL prevail, unless you can come up with some very good reasons for your cancellation.

[Brent]

The agent should be paid.  It isn't their fault you changed your mind.  Your mistake should be yours alone to pay for and not someone else with lost commissions and/or time wasted.