Can I back out from a constructed house purchase contract?What are my legal obligations to the builder ?

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Can I back out from a constructed house purchase contract?What are my legal obligations to the builder ?

My financial conditions has change and the computed monthly payments for my loan is no longer affordable for me.

2007-09-27 07:32:03 · 3 answers · asked by Noelle 1 in Business & Finance ➔ Renting & Real Estate

3 answers

Your obligations will be detailed in the contract you signed. You'd probably lose whatever money you've already paid, and depending on the contract, could be sued for the balance.

2007-09-27 07:35:29 · answer #1 · answered by Judy 7 · 0⤊ 0⤋

You may have a less painful out if the lender denies the loan. Talk to your lender.

2007-09-27 07:41:10 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋

If you signed a contract, you promised to buy. Sorry.

2007-09-27 07:36:25 · answer #3 · answered by Anonymous · 0⤊ 0⤋