How can I get out of a purchase agreement on a home sale

UPDATED: Sep 30, 2022

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How can I get out of a purchase agreement on a home sale

How to get out of a purchase agreement on a home sale

Asked on March 27, 2017 under Real Estate Law, Michigan


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

You can only get out of the agreement if:
1) The contract of sale provides that you can get out of it under certain circumstances, and you comply with whatever those circumstances or requirements are.
2) The other side provably committed fraud, or knowingly lied about something material (or important) to induce you to agree to the sale, upon which lie you reasonably relied (i.e. no warning signs to not rely on it).
3) The other side breaches or violates some material, or important, obligation under the contract. 
Otherwise, you will be held to the contract and must go through with it.

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 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.

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