We put an offer on a home in the begining of July. The house was listed at 249,500. We offerend 262,500 knowing that the house was very underpriced and there were 3 other contracts already on it. The couple that owns the housing is going through a divorce so legal issues came in to play and they have had court dates because the husband now wants to buy the house cause he yhinks its underpriced. Blah blah blah. they keep going to court to decide if they have to sell it or not. Anyway its been over a month, the next court date is on the 20th. We have since found another house that I actually like better. Can we cancel our contract being that it is taking so long, we don't want to lose this new house if we wait to long and the other one doesn't go through.
2007-08-13 04:47:36 · 6 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Most contracts are written with an expiration date and chances are you are well past that date. If so, you can walk away with a full refund of your good faith deposit.
2007-08-13 04:55:59 · answer #1 · answered by linkus86 7 · 1⤊ 0⤋
i'm a real belongings agent. You sound such as you signed a shopper broking service settlement. And confident there is the kind of settlement, the previous placed up is somewhat incorrect! this is what I advise you do. Write a letter on your realtor. tell her which you signed an settlement along with her in stable faith and that she by no ability presented you with a replica of the settlement. on your letter ask her for a replica of the settlement. additionally point out which you haven't any longer heard from her in _______ volume of time. You signed the settlement in stable faith believing that she could coach you properties and he or she has no longer. point out that the settlement states that she could carry out via exhibiting you properties diligently. She has no longer carried out so consequently has voided out the settlement. State which you're canceling the settlement along with her at recent and additionally point out which you would be calling her place of work supervisor to talk this count intimately. I want you success.
2016-10-02 05:54:18 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Where are you located?
If you're in the UK you can back out at any time up to exchange of contracts.
If you're in the US and the seller(s) have accepted your offer you are all now bound by the terms of the agreement. They must complete the sale regardless of the B/S going on with their divorce and you must complete the purchase unless one of your contingency clauses (financing, inspection, etc.) kicks in.
2007-08-13 05:05:22 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Check the wording of your offer very carefully. If in doubt, get an opinion from your Legal Advisor or you might be looking at 2 homes.
2007-08-13 04:59:16 · answer #4 · answered by smiling_freds_biz_info 6 · 0⤊ 0⤋
Talk to your Realtor and see or read your contract. I believe there is a clause in there talking about such issue.
2007-08-13 05:21:32 · answer #5 · answered by Jenn 4 · 0⤊ 0⤋
You don't HAVE a contract! A contract requires offer and acceptance, you have offerred and you don't have acceptance.
2007-08-13 05:05:10 · answer #6 · answered by Craig T 6 · 0⤊ 0⤋