C, Home Buyer in South Carolina

Is there a right of recission in SC for a real estate contract? We signed one with a seller for a for sale

Asked by C, South Carolina Fri Aug 8, 2008

by owner lot. We would like to back out. It has been less than 24 hours.

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4
I agree with Seth. Not sure how much money you are looking at spending on this lot. Worst comes to worst, you can always purchase and put it right back on the market.
0 votes Thank Flag Link Tue Jan 20, 2009
C,

That's not very good news...

If you really need to get out of your contract, you best bet is probably to consult an attorney. Without any contingencies, there isn't going to be an easy way out that I know of.

Sometimes you can also just talk to the seller, tell them what you are thinking and possibly come up with some kind of an exit negotiation.

Good Luck C!
0 votes Thank Flag Link Fri Aug 8, 2008
We wrote in 2 contingencies but only one may help us get out. It was written approval from Santee Cooper for a dock. The time required to get this approval may take more than the 30 days we specified.
0 votes Thank Flag Link Fri Aug 8, 2008
There is no right of recission in SC for contracts (there are rights for mortgages) but typically, depending on your real estate agent and the contract you used, there will be some contingencies or "loop holes" that you can use to get out of your contract.

If you didn't use an agent, or if your agent didn't write any contingencies into the contract, there are still a few built into the SC state contract. (If correctly filled out) Is your contract contingent upon anything? Perk testing? Survey? Financing?
0 votes Thank Flag Link Fri Aug 8, 2008
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