Am I obligated to buy a home if I haven't closed on it?
I am in the process of buying a Celebrity Home. Some things in my life have drastically changed and I am not sure it is the best thing to be doing at this time. I haven't closed on the home but I have given them some money and picked things out for the interior etc. Unfortunately the home is almost finished and the closing date is set for next month. Am I obligate to buy the home even though I haven't closed on it? I know the right thing to do is to follow through with my obligations but as I said there are things going on in my life now that I didn't see coming.
As Roy and Cindi said ask your Realtor but that is assuming that the Realtor representing you is not with Celebrity Homes. The likely outcome of not closing on the purchase of this house is that you will lose your earnest deposit. Of course it would be best to consult with a real estate attorney in Omaha before doing anything.
You really should talk to your agent. You may have contingencies in your contract that cover these life changes. If you do not have a buyer's agent I would suggest that you consult with a lawyer.
It depends on how the contract was written...your realtor should be able to guide you.
It depends on how your contract is written. Your Realtor should be able to guide you and answer your questions. Good luck!
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