Home Buying in 68123>Question Details

Jbs, Home Buyer in 68123

Am I obligated to buy a home if I haven't closed on it?

Asked by Jbs, 68123 Tue Nov 11, 2008

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.

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The chances are that you will lose your earnest money deposit. I would speak to my agent and a real estate attorney to check the contract to see if you have any options.
0 votes Thank Flag Link Wed Dec 21, 2011
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.
Web Reference: http://www.TrummTeam.com
0 votes Thank Flag Link Sat Mar 21, 2009
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.
Web Reference: Http://RoyKotzRealtor.com
0 votes Thank Flag Link Tue Nov 11, 2008
It depends on how the contract was written...your realtor should be able to guide you.
Web Reference: http://www.cindihagley.com
0 votes Thank Flag Link Tue Nov 11, 2008
Cindi Hagley…, Real Estate Pro in San Ramon, CA
MVP'08
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It depends on how your contract is written. Your Realtor should be able to guide you and answer your questions. Good luck!
Web Reference: http://www.cindihagley.com
0 votes Thank Flag Link Tue Nov 11, 2008
Cindi Hagley…, Real Estate Pro in San Ramon, CA
MVP'08
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