Home Buying in Muskogee>Question Details

Teresa Beckh…, Home Buyer in Wagoner, OK

Disaster walk-thru on "AS-IS" sale.Cash deal,closing set for 8/24.I have not signed the deed or paid the balance due.Can I cancel this?

Asked by Teresa Beckham, Wagoner, OK Sun Aug 14, 2011

purchase? I live out of state and did not receive honest details about the house from the agent.I flew out to wait for and sign the deed which has not come back from the title co. yet.There is serious foundation issues & no useable bathroom(floor missing,can see ground) Closing is set for Aug.24th. and I want to back-out of this purchase,can I do that on an "AS-IS" sale?

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Without knowing the details of the contract it's hard so say. When you refer to the "agent", are you talking about the listing agent or your buyer's agent? Please tell me you have a buyer's agent working for YOU. Even if a property is sold "as-is" you can still decide to not buy it.....provided the contract was written that way. In Colorado there are many opportunities for buyers to get out of a contract. (i.e. title, inspection, due diligence, insurance, HOA) if any one of these areas pose a problem, you can get out of the contract. You need to talk to your REALTOR. (NOT the listing agent). If you aren't represented by anyone, then you need to find an attorney asap.
0 votes Thank Flag Link Sun Aug 14, 2011
Are u still within your inspection period? Typically in California that is 10 days but even with that being said you can get out after that without penalty. What has your agent advised you to do?
Web Reference: http://www.ajsocalteam.com
0 votes Thank Flag Link Sun Aug 14, 2011
Teresa did you sign a purchase contract without seeing the property??? This a huge no no... You will need to review your contract and see if you have an out, otherwise you should meet with an attorney asap to protect your rights, your deposit and any losses from not closing. If you relied on ah agents opinion prior to purchase, if you had an inspection oand tehy missed this or if this damage happened after your purchased. If not only teh attorney can tell you your options if you did not complete any due diloigince and purchased without looking or having an expereinced person look and inspect for you. good luck working things out
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Sun Aug 14, 2011
I would gather that you do not have an Inspection Contingency?
The "honest details"; were they in writing?
You have never seen the property you are buying and you do not have a Reator representing you?

But it sounds like you have signed a Contract:
You would have to refer to that Contract to see what your obligations are; it is time that you got some help.
0 votes Thank Flag Link Sun Aug 14, 2011
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