Home Buying in Revere>Question Details

Wbcn34, Home Buyer in Revere, MA

can i break a contract?

Asked by Wbcn34, Revere, MA Tue Aug 21, 2012

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I would suggest you talk to your Buyer Agent, Loan Officer and a Real Estate Attorney.

j
0 votes Thank Flag Link Tue Aug 21, 2012
Depends on the terms of the contract and what each parties obligations are and the ramifications that should be spelled out in the contract. Is it an offer to purchase or a purchase and sales agreement.

It may be subject to financing, inspection etc.

Many attorneys put in a clause that your liability should you break it is limited to your deposit.

If you just entered into an offer some sellers understand buyers getting cold feet and don't hold them to the contract as they realize that the buyer will get out later for inspection issues or financing issues.

I suggest if its an offer you speak with your buyer agent, if it is a purchase and sales, speak with your attorney. These two will be best to advise you.
0 votes Thank Flag Link Wed Aug 22, 2012
Depends on the contract. Contact an attorney for advice, and you will need a copy of the contract.
0 votes Thank Flag Link Tue Aug 21, 2012
You probably can but you will probably have some sort of consequences from doing so. I would read your contract, talk to your agent and possibly an attorney before doing this.
0 votes Thank Flag Link Tue Aug 21, 2012
In one way or another,
this has got to be the question of the Month!
0 votes Thank Flag Link Tue Aug 21, 2012
Breaking a contract will have consequences.
0 votes Thank Flag Link Tue Aug 21, 2012
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