Luz Diwa, Home Buyer in Carson, CA

Can i still back out in buying a property, if the agent prmoised us or gave us a timeframe that we can moved out on a specific date...?

Asked by Luz Diwa, Carson, CA Fri Jan 4, 2013

The agent gave us a timeframe or promised us that we can moved to the house that we're buying on a certain date but he said that it takes a long time the bank to sign the documents

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Answers

5
It depends on what was agreed to in your contract if your deposit would be at risk to back out by a certain time. I suggest speaking with your agent, and if you can't get the answers you need clearly explained, then I would ask to speak with their broker to get a clear understanding! Hope that helps!
1 vote Thank Flag Link Fri Jan 4, 2013
I suggest reading your purchase contract very carefully
0 votes Thank Flag Link Mon May 20, 2013
Does the lender you are working with have a specific date for you to sign loan documents? You may have some options if you have not released contingencies. I would definitely contact the lender you are working with to send you a copy the full loan approval. If you back-out without the selling agent's full release and cancellation, you may be risking losing your deposit.

Feel free to contact me directly with any questions you may have,

Anna Maria Kitras, Keller Williams- Broker Associate
annamaria@southbayluxuryhomes.com
http://www.southbayluxuryhomes.com
323-608-4881
0 votes Thank Flag Link Fri Jan 4, 2013
If you are buying a short sale - the time frame is out of your agent's control.
It's up to the short sale lender(s) - how long the process will take.

If you love the property you are buying and you are getting a good deal - make alternative arrangements, and maybe stay somewhere else for the time being (or go into month to month tenancy where you are now)...

If you are no longer loving the property - read your contract, there must be a timeline for cancelling out of the deal.

Hope this helps,

Irina Karan
305-904-2355
Beachfront Realty, Inc.
IrinaKaran@gmail.com
0 votes Thank Flag Link Fri Jan 4, 2013
Hi,

You'll have to provide some more information about the contingencies of the contract. For instance, are you past the home inspection date? Loan commitment date?
0 votes Thank Flag Link Fri Jan 4, 2013
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