Question Details

Micheal Reid, Home Buyer in Los Angeles County, CA

I made an offer for probate sale, and got a court confirmation. I'm rethinking my offer to cancel

Asked by Micheal Reid, Los Angeles County, CA Mon Apr 6, 2009

I made an offer for probate sale, and got a court confirmation. I'm rethinking my offer to cancel because the price in the neighborhood is declining. Can I get out of this offer before the court date without losing my deposit money. Can I cancel the contract without any penalty before the court date.

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Answers

2
Please review your offer with attorney or Real Estate Broker. Your probate offer ussualy includes deposit of 10%. It is a good faith (performance)deposit. Did your offer included loan contingency? depanding how is your offer was structured, you could have some conditions, that would enavle you to recieve your deposit back.
Again consult attorney.
Gene Yakubovich
1 vote Thank Flag Link Mon Apr 6, 2009
Thank you Gene, but I actually waived all my contingencies.
0 votes Thank Flag Link Tue Apr 7, 2009
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