The answer is almost always "Yes".
In general, Buyerâ€™s can almost always back out if they have discovered material facts that are detrimental to the purchase.
The courts have ruled that if the BUYER THINKS the material fact is detrimental, THEN IT IS.
I am not an attorney (and I donâ€™t play one on TV). This advice from my own personal experience.
Your contract would have to be reviewed by your Broker or your Attorney to give you specific advice.
I hope this helps you.
The second question I want to ask is where is your Realtor that wrote the offer on your behalf? When working with a buyer the agentâ€™s main goal is to not only find the desired house for the most affordable price, but once in escrow the buyerâ€™s agent has a fiduciary duty to the client to protect that deposit check. If the deal is not what you initially thought it to be your biggest advocate in getting you out without penalty should be your agent. Best of luck, and I hope this pans out well for you.
Marlene Macbeth, e-PRO, GRI
Santa Ynez Valley, CA
It depends on what is in the conrtact ,any cotingenies also look at the dates in the contract
. and of course have a Real estate review your contract..