2007-05-10 05:24:58 · 4 answers · asked by VINCENT S 1 in Business & Finance ➔ Renting & Real Estate
Real estate contracts often contain numerous contingencies. If you no longer wish to purchase the house, look closely to see if the seller has met all the contingencies. If they have, you may have to pay to get out of the contract.
2007-05-10 05:30:53 · answer #1 · answered by Anonymous · 2⤊ 0⤋
The only thing that can probably save you and your money in getting out of contract is the contingencies. If they are not cleared, you can pretty much get your deposit back.
Make sure it's a good reason why you want out of the contract and not just simply because you dont like the house anymore.
And most definitely talk to your agent representing you.
Good luck
2007-05-10 16:06:44 · answer #2 · answered by SCCRealEstateUNCENSORED.com 3 · 1⤊ 0⤋
how much of a deposit do you put down?
expect NOT to get it back.
Hope that the sellers don't incur any other losses.
Thus that they will attempt to sue you for the inconviences... ie/ rent elsewhere, moving costs, relisting their home. (UNLIKELY, but watch out)
Most important, when you put your offer on the house... did you have "OUT" clauses? ie/ house conditional upon inspection or financing?
You could start off by saying that financing fell through.... or discover a severe flaw in the house you are purchasing (being an old house), a flaw that the homeowner evidently was hiding. You could comfortable run away from the deal without reprocussions. They are guilty of consealling the state of the home?
good luck
2007-05-10 12:31:53 · answer #3 · answered by movngfwd 6 · 0⤊ 0⤋
It depends on the contract you signed. Ask the Realtor who's representing you what your options are.
2007-05-10 12:31:33 · answer #4 · answered by teran_realtor 7 · 1⤊ 0⤋