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Old 03-06-2016, 04:03 PM
 
6 posts, read 6,273 times
Reputation: 16

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Hello every one,

I recently bought a town home. I gave 9000$ towards advance. We selected our options. They started building the house, still very initial phase. Now at this time because off personnel reasons I wanted not to buy the house.


Can I back out of the house now? I am ready to forget about 9000$ I paid.

Thank you fr your replies.
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Old 03-06-2016, 04:07 PM
 
Location: Clayton, NC
514 posts, read 602,628 times
Reputation: 269
Quote:
Originally Posted by prashanthnanganachi View Post
Hello every one,

I recently bought a town home. I gave 9000$ towards advance. We selected our options. They started building the house, still very initial phase. Now at this time because off personnel reasons I wanted not to buy the house.


Can I back out of the house now? I am ready to forget about 9000$ I paid.

Thank you fr your replies.
If you have yet to close, and that appears to be the case, you should inform your agent immediately. You all can review the contract for terms but, I think it is fair to say that you are correct about forgetting the money, as you would be in breach of the contract.
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Old 03-06-2016, 04:14 PM
 
Location: Raleigh, NC
6,825 posts, read 9,061,623 times
Reputation: 5205
For something this important you really should get some kind of legal advice. Especially since $9,000 is on the table.
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Old 03-06-2016, 04:34 PM
 
Location: Cary, NC
43,292 posts, read 77,129,965 times
Reputation: 45657
Read your contract. Or, have an attorney read it for you.
It is pretty hard to make an unwilling buyer consummate a real estate transaction. So, I would readily expect that you can walk away from your $9000 with no further obligation, but you should clearly understand the specifics of the contract that you signed.
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Old 03-06-2016, 04:48 PM
 
Location: Clayton, NC
514 posts, read 602,628 times
Reputation: 269
Quote:
Originally Posted by MikeJaquish View Post
Read your contract. Or, have an attorney read it for you.
It is pretty hard to make an unwilling buyer consummate a real estate transaction. So, I would readily expect that you can walk away from your $9000 with no further obligation, but you should clearly understand the specifics of the contract that you signed.
Yes, indeed. Also, since it was new construction (and they may have enticed you to use their preferred attorney in order to gain concessions), I would suggest that legal advice come from a different legal
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Old 03-06-2016, 05:30 PM
 
121 posts, read 159,795 times
Reputation: 66
I pm'd you.
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Old 03-06-2016, 05:32 PM
 
Location: Morrisville, NC
9,145 posts, read 14,768,819 times
Reputation: 9073
Did you mean that you were OK with losing the $9k? If so, I imagine you can get out without much issue.
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Old 03-06-2016, 06:37 PM
 
Location: Clayton, NC
514 posts, read 602,628 times
Reputation: 269
Quote:
Originally Posted by Sherifftruman View Post
Did you mean that you were OK with losing the $9k? If so, I imagine you can get out without much issue.
That is how I read the statement.
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Old 03-08-2016, 08:02 AM
 
261 posts, read 307,612 times
Reputation: 264
Why would you walk away from $9k?

Get some legal advice, explore your options. You may be better off seeing the deal through and selling it after you close.
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Old 03-08-2016, 09:11 AM
 
Location: Raleigh, NC
6,825 posts, read 9,061,623 times
Reputation: 5205
Quote:
Originally Posted by stopgo View Post
Why would you walk away from $9k?

Get some legal advice, explore your options. You may be better off seeing the deal through and selling it after you close.
Personal reasons according to OP. Could be health issues, a lost job, etc.
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