How can I get out of My Purchase Agreement for my home? Lease to Own with Purchase Agrement. Michigan

Asked by Brandy, Michigan Fri Feb 13, 2009

Help the community by answering this question:

+ web reference
Web reference:


Derek Bauer, Agent, South Lyon, MI
Fri Feb 13, 2009

That is a VERY loaded question. There are LOTS of questions we would need to have answered to have any idea of how that might play out for you. At this point, all anyone can do is advise you to seek legal counsel.

Derek Bauer
Real Estate One
Web Reference:
1 vote
Chad Brown, Agent, Traverse City, MI
Fri Feb 13, 2009

Couldn't agree more with the advice to contact an attorney. My firm is based in Traverse City and I would be happy to provide you with the names of some solid attorneys that may be able to help. Of course a conversation with your Realtor would be appropriate in advance, especially if they were working on your behalf as a Buyer's Agent. Good luck. Please contact me at your convenience if I may be able to help.

Chad Brown
Broker / Owner
Homewaters, L.L.C.
0 votes
Jason Ewing, Agent, High Point, NC
Fri Feb 13, 2009

As Maureen stated, you should definately contact your Realtor and real estate attorney. They will be able to explain what happens if you choose to cancel the contract. Typically you will loose the deposit or earnest moneys you put down, but you may be able to negotiate with the seller. Depending on how quickly you are looking to leave, the seller may agree to list the property for sale again and as long as it is under contract with a new buyer prior to your departure, you either get a portion of or all of your deposit back.

Jason Ewing, GRI/CNS
Coldwell Banker Triad, Realtors
0 votes
Mark Hensel, , Ann Arbor, MI
Fri Feb 13, 2009
There are alot of variables that bear on the answer to this question. The best thing you can do is contact a good real estate attorney in your area and get their opinion. Ask your agent, I am sure he or she can provide you with someone they have worked with in the past who can give you some guidance.
0 votes
Maureen Fran…, Agent, Birmingham, MI
Fri Feb 13, 2009

Look at your contract and ask your agent or attorney how you can get out. There are typically contingencies that allow you to get out. You need to know what these are and the contract stipulates them.

Good luck!
0 votes
Search Advice
Ask our community a question
Home Buying in Traverse City Zip Codes

Email me when…

Learn more