If I an just made an offer on a house and the seller excepted it, during the inspection can we decide to not buy the house?

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If I an just made an offer on a house and the seller excepted it, during the inspection can we decide to not buy the house?

Asked on November 8, 2015 under Real Estate Law, Louisiana

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

Your age or financial condition is irrelevant. The only thing that is relevant is whether 1) the contract of sale has an "inspection contingency" allowing you out of the contract dur to the inspection if certain things happen (e.g. a serious condition is found and the buyer refuses to do anything about it); and 2) the conditions or events that would let you cancel under the inspection contingency did in fact occur. If so, you can get out.of the contract; otherwise, you are still obligated to buy the home.


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