What are my rights to terminating my contact?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

What are my rights to terminating my contact?

I signed a contract for a new construction condo (I did not commission the build) and upon inspection found significant water damage. There was no option period but it was written into the contract that the builder fixes all deficiencies found during the inspection. I am 5 days from closing and they are part way through addressing the leak but only intend to cover-up the water stained/damaged drywall, not replace. it Can I terminate and recoupe my earnest money?

Asked on August 13, 2017 under Real Estate Law, Texas

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

If the contract specifies that they will fix these deficiences but does not state a specific period or timeline by which they must, then the law would presume it must be fixed by closing. That means they are not in breach until the closing date. IF by or at closing, you find that they have not fixed the damage, that should provide a basis for you to terminate the contract, but you have to give them that long, because they are not in breach until then. If at closing it appears they rectified the problems, but you later find out that they did not, you could then sue them for compensation (e.g. the cost to remediate).


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