how to back out of house purchase agrement

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

how to back out of house purchase agrement

We signed a house purchase agreement. Then , my husband work transfer him out of
state. We want to back out , the seller refuse to release us under any term.
Threatened to take us to court. we have no congenicity except inspection and it
is a new house. We offered him money he refused.

Asked on January 15, 2018 under Real Estate Law, South Dakota

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

There is no way out of a home purchase agreement except--
1) In accordance with any contingencies (like an inspection or finance contingency);
2) If the seller breaches or violates a material or important term or obligation, like not being being able to provide clean title or not being able to close  when agreed;
3) If the seller committed fraud--knowingly misrepresented (either by lying, or by deliberately failing to disclose something he must) some important issue with or condition of the property which is not readily apparent to a buyer, such as that the basement floods whenever it rains;
4) The house is substantially damaged or destroyed pre-closing (e.g. by a fire or flooding), or it becomes impossible to sell it to you because of some act of government (e.g. the seller counted on getting some permit or waiver from zoning which he did not get).
Otherwise, you are obligated to the contract. In particular, a change in your circumstances, like a job transfer, is *not* grounds or a basis to get out of the contract. Contracts are not affected by changes or issues in your own life or finances, only by the other party's wrongful acts or things making the sale physically or legally impossible.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption