if you are a real estate attorney or have experience with real estate sales please

Nana

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May 22, 2008
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respond.? I am one week away from closing. I have an attorney that I am working with and I no longer want the house. If I purchase the house, I will have to redo kitchen, bathroom, floors etc. I had called my real estate agent and he told me that it is too late and that there is nothing that he can do. The more I think about the house the more I don't want it because the fixtures will cost a lot of money and that is expense coming out of my pocket all at once. Plus the house driveway is on a hill and plus there is no garage. THis is my first time buying a property and at this point all I want is something new or requiring no immediate fixture. Please tell me how to get out of this.
 
Read the contract. At best, you may lose a deposit. At worst, you may be sued for specific performance, and wind up not only having to buy the house but pay a pile of legal bills as well. Your only recourse is to use a "weasel clause"; these are commonly put into real estate contracts as contingencies, and require the buyer's approval of whatever the clause relates to, such as a satisfactory termite report, roof inspection, neighborhood inspection, and many others. See if your contract has one -- and, next time, read the damned thing to see what it says.
 
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