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Buying & Selling Real Estate

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Mary Jay
  • Glendale, AZ
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How to get out of a purchase contract?

Mary Jay
  • Glendale, AZ
Posted Jan 17 2021, 00:12

Hi guys,

I was thinking of buying this house, and I am in escrow and the contract is: "Contingent on buyer's due diligence."

However, I have realized this property is not a good investment for me for many reasons: one of the reasons, the seller would not allow to do due diligence until the tenant moves out. After the tenant moved out, I only had two days to do my due diligence but the seller never confirmed the time for my people to go into the property to do the due diligence. So inspection period is over. I stopped the earnest money check from being cashed because of the issue with the due diligence...I honestly, want out of the contract.

How to word my reasoning for getting out so I would not get into a legal trouble for getting out?

Thank you

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