Home Buying in San Ramon>Question Details

Katie, Home Buyer in San Ramon, CA

I bought a home in san ramon a month back which is due in november. I eventually started not liking the home

Asked by Katie, San Ramon, CA Mon Jun 16, 2008

as much as we did intitially. Can someone suggest what is the good thing to do now?

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8
Katie, you really need to talk with a Real Estate lawyer, and one that specializes in new construction if at all possible. Typically, there must be a breach of some sort to cancel the contract.
0 votes Thank Flag Link Tue Jun 17, 2008
you can get out with your deposit. the people here don't know what they are talking about. hire a good attorney and you'll have your money back. good luck. It is illegal for them to hold funds for services or products not rendered.
0 votes Thank Flag Link Mon Jun 16, 2008
Barb has a great point, Check your contract. But basically, it's wave goodbye to your deposit and move on. In many cases, it's actually a better financial move, but really, if you are gonna be unhappy in the home, don't worry about the money. Best of Luck! The Coach
Web Reference: http://askEB.com
0 votes Thank Flag Link Mon Jun 16, 2008
It sounds as if this is a new home which has not been completed yet. Read your contract, so that when you go in to the sales office to discuss cancelling, you will be aware of your rights.
0 votes Thank Flag Link Mon Jun 16, 2008
What do you mean that you bought it and it is due in November. Is it a lease purchase? You just can't walk from a transaction if have closed on it.
Web Reference: http://GetPrequalified.com
0 votes Thank Flag Link Mon Jun 16, 2008
There is no way you can simply get rid of it without losing partial or full amount of your deposit. Unless you can find a reasonable excuse. I heard someone back off contract successfully because the price dropped too much, or having a divorce, or lost a job which can no longer qualify for a loan.

Otherwise you have no way out even you can find someone willing to take it over from you.
0 votes Thank Flag Link Mon Jun 16, 2008
Check your contract and see if you can get out. There are lot of ways you can get out just do some searching and it has been done many times. good luck.
0 votes Thank Flag Link Mon Jun 16, 2008
You may try to work with same builder on different location or different floor plan. Though, it may take away some of the negotiation power you may have. At most, you could potentially loose full or part of your deposit money
0 votes Thank Flag Link Mon Jun 16, 2008
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