Home Buying in Birmingham>Question Details

Brian, Home Buyer in Birmingham, AL

I have a contract to build a home, and now I want out. I don't mind losing my earnest money. Can I simply?

Asked by Brian, Birmingham, AL Sat Feb 14, 2009

back out and forfeit this money?

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Answers

4
Most contracts allow for parties effected by breech of contract to recover damages. So as mentioned previously, it may not be as simple as surrendering your deposit.

Our recommendation is to have an attorney review your contract and provide you with solid legal advice.

Good luck
0 votes Thank Flag Link Sat Feb 14, 2009
Brain,

I would recommend you consult with a real estate attorney. I have a number that I can recommend. You can contact me at 410-3735 and I'll be glad to help.

Brad
0 votes Thank Flag Link Sat Feb 14, 2009
It may not be that easy. Have your agent review your contract prior to doing anything ~ Good Luck!
Web Reference: http://www.pauld-kw.com
0 votes Thank Flag Link Sat Feb 14, 2009
All contracts are governed by executed terms and conditions of performance of buyer and seller. You need to review your contract if you can have amendment release you from contract without any furhter obligations.

Speak with your buyers agent OR an attorney assist you.
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Sat Feb 14, 2009
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