Updated over 7 years ago on . Most recent reply
Backing out of HUD deal after 15 days
In short I put a house under contract with HUD, went past my 15 day inspection period, and want to back out before the 30 day closing. The house doesn't have a meter, and the utility company still hasn't installed one. Without the power on, my inspector can't do his thing. He says the A/C is old, and likely needs replaced.
Anyway, my realtor has spoken with the listing agent. She said that HUD is going to have me sign a release, however they won't let me bid on houses in the future. Will they follow through with this? Is it indefinite?
HUD isn't impressive, I'm not sure I have faith of them even keeping track of my name....
Most Popular Reply
Do you really just want out and are looking for excuses?
Or do you actually want to go through with a legally binding contract which you signed?
Very easy to hook up a generator so all electric will work for the inspector to do his job.
But if yuh just want out then get out and hope you are not investigated for fraud in the future.
Personally I would have the inspector do their job and not do anything with the electric and figure I am going to have to get New A/C