Is there a way to get out of a short sale home contract and get your earnest money back based on an inspection report or on nearby sex offenders?

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Is there a way to get out of a short sale home contract and get your earnest money back based on an inspection report or on nearby sex offenders?

Asked on November 2, 2015 under Real Estate Law, Colorado

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

1) Inspection report: you can get out of the contract only if there was an "inspection contingency" in the contract of sale (that is, some provision allowing you to terminate the contract based on the results of an inspection report) and you complied with all its terms, time lines, requirements, etc.
2) There is no out from a home purchase contract for nearby sex offenders.


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