I agree with the others, speak to your attorney, they should be able to get you out of the contract pretty easily depending how far into the transaction you are and of course provided your claim is true if later in the transaction process.

1. How long have you been under contract (ie: out of attorney review) and how far along are you in the purchase process?
2. Have home inspections been done? Any issues?
3. How did you find out a drug addict lives in the unit below? Are you guessing because the guy looks like a hippie, did the neighbors tell you they have problems with him or did you notice police paying him a visit?

This sounds like an issue the seller and possibly their agent may have been aware of however neglected to mention but is an issue (safety, legal) and may be a valid one.

There are a million ways to get out of a contract but talking to your attorney is the best place to start.
It's not as hard as you may think to get out of a contract, some agents may tell you that ya can't get out of it for numerous reasons just to keep the transaction going so speak with your legal representative concerning these matters.

Like everyone else has said.. speak to your attorney immediately.

I was always told a deal is not a deal until it closes. If you do not want to buy the place. Stop it in its tracks.

There will be a penalty involved of some sort I am sure, but you will not know until you give it a shot. A lot of people do not do their due diligence when getting involved in a real estate transaction and it is tough to get this far and realize this is not the place you want to be.

I am not an attorney and this is just my opinion, but do what is best for you.

Good Luck.

Faith
What did your Realtor say?
Sounds like a good reason to me.
Good luck

Speak with your attorney but just as with sexual offenders etc, you could buy and the next day have one move in next door. If I were the seller I would hold you to the contract.

Hello, Faith!
At this point it will be almost impossible to breach contract without penalty. You cannot use the neighbor as excuse for your decision. If you will be mentioned who he/she is, this is a case of discrimination.
And yes, consult your attorney.

Hi Faith, sorry to hear about that. Suggest you talk with your attorney.

Good luck,
Jeannie Feenick
Search and connect at http://www.feenick.com