breach of contract
Buyer’s Remorse in New Construction Home Purchase
New construction home buyer gets buyer’s remorse and wants to buy a different home. Q: I signed a contract two months ago for a newly-built house with a leading builder. The home will take about four months to build. The …
Terminating Purchase Contract For Home
Once signed, it may not be easy to terminate a contract for a home. Q: My friend and I are in the final stages of buying a house. The property is going to be in her name only but some …
Limited Options to Get Out of Timeshare Contract
Limited options available to get out of a timeshare contract. Timeshare owners have limited options for getting out of timeshare contracts. Work with timeshare management company to get out of timeshare contract. Timeshare owners trying to get out of timeshare contract have limited options and are still responsible for maintenance and homeowners assoctiation payments for timeshare. Contact a real estate agent specializing in timeshares to help get out of timeshare contract.
Breaking The Lease Without Penalty May Be Impossible
Once you sign a lease for an apartment or house rental, you are responsible for fulfilling the terms of your lease. If you want to leave before the lease ends, you will usually have to pay some form of penalty. You are also responsible for any damages, according to the terms of your lease. If you have roommates, you will still be responsible for their damages to the apartment. Make sure you understand the terms of your lease because breaking the lease without penalty may be impossible.
Get Earnest Money Back After Short Sale Falls Through
Get earnest money or down payment back after a short sale falls through. If you have the right to the return of your earnest money or down payment under a contract, the listing broker should have no problem sending your earnest money or down payment back. But you need to make sure you have complied with the terms of your contract to get your earnest money back. It may not be enough to just get the word of the listing broker.
Buyer Broker Agreement: Get Out Of A Contract
Under your buyer broker agreement you may be able to get out of a contract if your buyers agent shows a conflict of interest. A buyer was interested in a house, until she discovered that her real estate agent also owned the property. The buyer felt uncomfortable dealing with the agent and the owner, and wants to get out of the contract. With this conflict of interest, the buyer may be able to get out of the buyer broker agreement or get a different agent from the real estate company.
Cancellation Of Contract Possible Due To Undisclosed Homeowner’s Association
The homebuying process is full of surprises. Some homebuyers will find out that a home they are looking to buy has title defects, construction defects or, as in the case of this reader, the home to be purchased belongs to a homeowner’s association. When a buyer is faced with these surprises, the buyer may see if a cancellation of the contract is possible. In some cases cancelling the contract is specifically permitted under the contract but in other cases the attempt to cancel the contract may lead to litigation.
Canceling A Contract When The Numbers Don’t Match
Generally when people buy homes, they don’t buy them on the basis of the number of square feet the home has. If the square footage of a home is important, the parties to that transaction need to make sure that they know and understand how the square footage of the home is computed and what happens if the numbers are wrong. Can you cancel a contract if the square footage is less than what is advertised? How difficult is it to cancel a contract? Can you get your money back?
Buyer Protected By Ratified Contract?
A home buyer had an offer accepted to purchase a condo with a ratified contract. After accepting, the seller wants to counter the buyer’s offer. Whether both sides signed the contract and what they signed to will direct this buyer on how to proceed.
Appraisal Value Prevents Mortgage Financing
If you don’t receive mortgage financing under the current terms of a contract, what can you do? Should you renegotiate or back out of the contract? The terms of your real estate contract may include provisions that will allow you different options.
