Thank you all so much for replying. All of your answers were great! I will contact a qualified real estate attorney immediatly.

It all depends on what contract you used. You need to read all the details, talk with your agent, and then contact an attorney. If there is a time period to cancel your contract, that time may be running out.

Nadine Mauro
The Herman Group Real Estate
561-414-0864
NadineMauroRE@yahoo.com

Your contract is what guides what you as a buyer can and cannot do. It sounds like you may not have a buyer's agent, however if you do you should speak to them.

If not then you should speak with a good Real Estate Attorney.

I normally protect my buyer by putting in a contingency that they can cancel if the inspection is not satisfactory to the buyer or to put in a dollar limit to the amount of repairs required.

Please be aware that in most contracts you would have a certain closing date, and usually the seller would not be able to extend the closing date for 6 months.

I believe you need to contact a Real Estate Attorney immediately.

Sincerely,

Jeff Launiere, P.A.
Real Estate Consultant
Keller Williams Realty
813-469-3163 (Direct)
800-622-0886 (Fax)
mailto:Info@SweetHomeTampa.com
http://www.SweetHomeTampa.com
http://www.SweetHomeTampaBlog.com

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You need an attorney. I'm not a lawyer, so this isn't legal advice.

You appear to have known that you were buying the house in "as is" condition and that your recourse was to allow the seller to cure the problems. And that's what he appears to be doing. In retrospect, of course, your inspection contingency should have provided an escape clause in the event of an unsatisfactory inspection.

Also, your contract should have had some time frames regarding closing and repairs, if necessary. Did it? And if so, did it really allow 6 months to allow the seller to make repairs? (Umm. Who the heck was representing you with that odd inspection clause and a 6-month period?)

Definitely get a lawyer.

Your buyers agent who is representing you need review terms and conditions of executed sales offer which governs what you can OR can't do withdraw your offer. No one can render an opinion till full contract provided.

If you don't have a Realtor contact an Attorney

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