What can I do if I recently enter into a contract to buy a house but the inspection uncovered several tings that I didn’t like so I don’t want to buy the house anymore?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
What can I do if I recently enter into a contract to buy a house but the inspection uncovered several tings that I didn’t like so I don’t want to buy the house anymore?
The buyer took my deposit.
Asked on January 6, 2016 under Real Estate Law, New York
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 8 years ago | Contributor
It depends on whether the contract of sale included an "inspection contingency," or a clause allowing you, the buyer, out of the deal based on the results of the inspection. If there was such an inspection contingency, then as long as the conditions or problems you found meet the criteria under the contingency to allow you to terminate the sale and get your deposit back, you can. But if there is no inspection contingency, then you are most likely obligated to purchase the house, since without an inspection contingency, it is an "as is" sale.
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.