If you can’t find a legal way to break the deal but still process backing out, the following things might happen to you. The buyer can sue you for the breach of contract You may need to pay compensation for your unreasonable and unwarranted action If you hire a real estate agent for listing your property and suddenly back out from the plan, they can also sue you if they want. You have to pay compensation for the promotional and legwork they have already done to sell your place.