How can I get out of a purchase agreement on a home sale

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How can I get out of a purchase agreement on a home sale

How to get out of a purchase agreement on a home sale

Asked on March 27, 2017 under Real Estate Law, Michigan

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

You can only get out of the agreement if:
1) The contract of sale provides that you can get out of it under certain circumstances, and you comply with whatever those circumstances or requirements are.
2) The other side provably committed fraud, or knowingly lied about something material (or important) to induce you to agree to the sale, upon which lie you reasonably relied (i.e. no warning signs to not rely on it).
3) The other side breaches or violates some material, or important, obligation under the contract. 
Otherwise, you will be held to the contract and must go through with it.


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