Backing Out Of New Construction Home Contract

Added March 23, 2009 by Ilyce R. Glink

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Summary: Home buyers are having second thoughts about a new construction home they purchased and want to back out and receive some of their money put down back as well. The selling agent for the new construction home has told them cancellations are not allowed, but the buyers say that is not part of the contract. A real estate attorney who specializes in new construction litigation can help these buyers determine if they can back out of their contract.

Q: My wife and I entered into a contract to buy a pre-construction house in November. Since that time, we have done some serious thinking about the area where we bought and feel that it is not best for our children. We would like to get out of the contract (we have put down $18,000 dollars) and we would to get at least some of our money back so we can buy a house in a better area.

We have contacted the builder. They referred us to the selling agent who says there are no cancellations, even though it does not state that in our contract. How can we proceed to get out of this house?

A: You may not be able to cancel this contract. It doesn't even sound like you have an agent, let alone an attorney who reviewed your contract before you signed it.

Please talk to a real estate attorney immediately, preferably one who has experience in new construction litigation. You can get a referral to a good attorney from your local bar association.

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