Cancelling Home Purchase

[Aj Green]

Hey, would I be able to get out of a home purchase with this clause I put in? Their a/c starting leaking and has missing ductwork, and is blowing air in random places. The contract was a simple 3 page one and I wrote this in.

Also, it is a single family being rented as a rooming house (which is technically not legal here).

[Chris Seveney]

Quote from @Aj Green:

Quote from @Gregory Wilson:

The real issue is how much of a deposit do you have to try to get back from them.

Sure, your contingency might work but I assume you gave the deposit to the seller. Suppose they say "No, sue me." What are you gonna do then?

I know its mean to say that people who do their own contracts get what they deserve, but you must know that if you are paying a couple hundred thousand dollars for something it just might have been worth spending $600 on a lawyer to do a proper contract for you. Right?

I always am amazed when someone selling a $600,000 house brings me a listing agreement where they agreed to pay a stranger $30,000 to list their house for sale and they didn't even read the agreement much less spend the $250 to have a lawyer tell them that yes, if they sell it to their cousin during the listing period they still have to pay the $30k. Or, when the buyer sues everyone for undisclosed defects they have to pay the listing agent's attorneys fees, etc.

 A standard $1k deposit. The property price was only 100k so things were a lot more informal.

 send them a cancellation and see what happens. Did you have the $ held by an escrow agent?

If not and you wrote them the check, then most likely the $ is gone and suing for that money will cost you more than $1000 unfortunately.

So cancel the agreement and request the funds