Home Buying in Calabasas>Question Details

sally2014, Home Buyer in Los Angeles, CA

Seller disclosures state nothing and even untruths, can I cancel and get deposit back?

Asked by sally2014, Los Angeles, CA Wed Oct 23, 2013

The house is old, the seller has lived there for years, yet had absolutely nothing on the disclosures. Also checked boxes such as they do not live on the property; clearly they do, and do not have pets on the property; which poop is all over the yard! I just don't trust the seller. Is this a lame basis to cancel and get a full refund? This is California and it has not been 5 days since I have received the seller's disclosures.

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Answers

7
I am a little confused, how can it state nothing and contain untruths?

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
I answer questions about financing real estate based on my decades of experience dealing with mortgage underwriters. This answer is my personal opinion, has not been reviewed or approved by the company I work for. I do not offer legal or tax advice, if you need answers from an attorney or CPA find one knowledgeable in your local market.
Web Reference: http://jamessimms.com/
0 votes Thank Flag Link Thu Oct 24, 2013
Based upon your rendition of events you should be able to, especially if there are undisputable errors. You will need the sellers to sign cancellation papers to get your deposit back, and your agent can take care of that for you.
0 votes Thank Flag Link Thu Oct 24, 2013
As long as you didn't remove all the physical Contingencies you have every right to cancel.

My suggestion if you are not IN LOVE with the house to just move on. There will be more for you.

Ofri
0 votes Thank Flag Link Thu Oct 24, 2013
Yes. Get your deposit back. Find another home
0 votes Thank Flag Link Wed Oct 23, 2013
Hi,

Yes you will get your deposit back, just put in writing your feel the disclosures are incomplete and incorrect. I didn't really understand the last paragraph in your statement about the 5 days? if you could let me if you have released your contingencies and if so, how long has it been?

Best Regards, Sheryl
0 votes Thank Flag Link Wed Oct 23, 2013
Sally, everything depends on your contingency period. If you have not removed your inspection contingency then you can still back out of the deal. Bottom line, do you want the house or are you done with the deal?? You can most likely back out of the deal. If you are still interested then ask more questions of the seller and the listing agent. If you don't like the response that you get then let the deal go. You have to feel a level of trust with the seller and agent. If not then say goodbye.
0 votes Thank Flag Link Wed Oct 23, 2013
As long as it is within 3 days of receipt of the disclosure. Additionally you have a way out if you are within your contingency period. Technically you are not even required to give a reason. You can just simply request cancellation and return of your deposit in full if you are within timeframes stated above and have not removed all of your contingencies.
0 votes Thank Flag Link Wed Oct 23, 2013
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