Options closer to Closing.

[Amby Bhagtani]

As a new out of state investor, I am curious what are the options to back out of a property once the inspections are complete and appraisal is ordered especially if you find something during inspections. Thank you so much !

[Bob S.]

Quote from @Amby Bhagtani:

Hello, 

What are my options to back out of a property 8 days prior to close to escrow (Reason: rent wouldn't be as strong as I expected speaking with PMs in the area). I am in the following stage: 

1. Inspection completed

2. Loan locked, appraisal ordered. - To be completed by Jan 23rd 

3. Closing -  Scheduled to complete on Jan 30th. 

I understand the earnest money will be lost but I am want to explore options. Any advice would be great. 

Thank you !

 TERRIBLE way to do business. You should NEVER even negotiate ( let along order appraisals and inspections) without knowing it all. All you did was waste everyone's time and money. Learn 1st, 

Your EM is gone, and depending on what your contract says you may lose even more. If I was the seller, I would hold you to closing, or get 10k for my troubles,