I just recently bought a house. I signed the contract. A inspector cam to see the house and the house was a mess. I would like to know if I can cancel the contract?
2007-09-01 09:16:46 · 7 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Check your contract. It most likely says that your offer is conditional on a favorable inspection. If the inspection showed to many flaws then yes you can get out of your contract.
2007-09-01 09:20:23 · answer #1 · answered by young2bballin 2 · 0⤊ 1⤋
If you have a clause in the offer that you can cancel if it doesn't pass inspection, you can.
It also depends on what you mean by "a mess" - is there junk lying around and it's dirty, or does the furnace not work, the roof and plumbing leak, and it has termites?
If there are major defects, in most locations the seller must disclose them if they know about them. If the problems found on the inspection are things the seller would definitely have known about, you might have a strong negotiating position even if your offer didn't include the inspection contingency.
Good luck.
2007-09-01 11:50:06 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
Probably, Most contracts have a condition clause. Either the seller has to fix the home to your satisfaction or you can void the contract. Talk to your agent Immediately. Talk to your escrow people immediately. Tell them the sale is not going to close if the property is not returned to pristine condition. With the market the way it is, believe me you will get fast action. You are not required to pay for a property that has changed since your initial inspection. That is what an escrow is all about. Protecting you from unexpected bull***.
2007-09-01 09:27:33 · answer #3 · answered by Traveler 7 · 0⤊ 0⤋
Only if you have a contingency in your contract relating to the reason you wish to cancel.
2007-09-01 09:24:49 · answer #4 · answered by Suzy 5 · 0⤊ 0⤋
look for suggestion from a lawyer on the instant to be sure the settlement regulation on your area. The sellers could sue you for damages alongside with their criminal expenses. Be very conscious of the outcomes beforehand you're making any rash judgements. could desire to a judgment be filed against you, it may desire to sever your credit for 7 years and stop you from procuring something. Be very careful. in case you have signed a settlement of purchase and sale that could be a company and binding criminal settlement. A lawyer would be waiting to furnish you your suggestions particular on your state/province. sturdy luck!
2016-10-17 10:09:05 · answer #5 · answered by borgmeyer 4 · 0⤊ 0⤋
Depends on if you have a prewritten clause or added a clause in the contract. Read it over.
2007-09-01 11:46:13 · answer #6 · answered by Carly Jacks 6 · 0⤊ 0⤋
If you put down earnest money, you might not get it back. Most sales are in lew of the home passing all inspections and/or the seller fixes them.
2007-09-01 09:24:33 · answer #7 · answered by Walkerfire 3 · 0⤊ 0⤋