You have a inspection period of usually 14 days. that is written in your contract.During your inspection period you may get out of the contract for any reason. I hope you had a real estate agent that would have written this in a contract to protect you .

You should be able to, that should be covered in your inspection contingency.

You should have included that your contract is contingent upon dsatisfactory review of the sellers property information report . if so this is your way out, if not you have to prove that they hid this from you or find another way out. You should have your buyer agent go over it with you, if you do not have a buyer agent you may want to talk to a real estate attorney for his advise. good luck with working it out

Did you use a standard Louisiana real estate contract? If so, there may be other ways to void it.

Chris -
I would take your purchase agreement to a real estate attorney to see what your options are. They are in the best position to advise you legally. It's worth the money to avoid purchasing a property you don't want - or a lawsuit that could come.

Did you have a realtor help you with the transaction? A realtor could have checked the flood zone before you signed the purchase agreement and would also recommend an inspection (mentioned in Kevin's email below).

Good luck!

Hi Chris,

Yes you can. The first thing I would ask is, when was the contract signed and how many days did you ask for an inspection? Inspections are critical for structures such as homes and businesses but should also be taken into consideration when buying vacant land.

Kevin