Home Buying in 33137>Question Details

Arjun Thapa-…, Home Buyer in Chicago, IL

Now very few days left for closing. What will be the consequences of i cancel contract. Where can i report for misinterpretation of property?

Asked by Arjun Thapa-chhetri, Chicago, IL Thu Dec 19, 2013

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7
Oh, so I understand now that I have read the second part of your question...Who was assisting you in the purchase of this property? Did you go straight to the listing agent or did you choose a different agent to represent you? How do you know that the information was misrepresented? Do you have a copy of the MLS sheet describing the property as other than a condo? Do you have an attorney assisting you in this transaction?
2 votes Thank Flag Link Thu Dec 19, 2013
Not sure how you got this close to closing date and just realizing this. If all your dates and deadlines have passed you might have a difficult time but the best advice is to contact a real estate attorney.
1 vote Thank Flag Link Fri Dec 20, 2013
Contact an attorney immediately!
1 vote Thank Flag Link Thu Dec 19, 2013
You will have to refer to the language in your purchase contract to know exactly what the repercussions would be. If you used an attorney you should consult with them as well.

Chris
1 vote Thank Flag Link Thu Dec 19, 2013
Did you see the property before entering into the contract.
0 votes Thank Flag Link Thu Dec 19, 2013
IT IS A VIOLATION OF A REAL ESTATE LAW .
0 votes Thank Flag Link Thu Dec 19, 2013
As Chris said: read your contract thoroughly to see the terms and consequences in failure to perform. Ask your Realtor or, if not represented by one, seek the advise of an Attorney. He will be able to address if there was any kind of misrepresentation

Good luck!!

Maria A Ballestrin
Elite Miami Realty, LLC
Tel: 305-283-5912
0 votes Thank Flag Link Thu Dec 19, 2013
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