backing out of a contract - Posted by molly

Posted by Natalie-VA on March 30, 2007 at 13:34:52:


You and your husband need an attorney to review the terms of your contract. All contracts are different. If the radon testing was not agreed on as part of the original contract, you might be out of luck if you insist on it. Your post suggests that maybe that issue came up after the contract was already ratified. You won’t get specific legal advice on this board, so talk with a local real estate attorney instead.


backing out of a contract - Posted by molly

Posted by molly on March 30, 2007 at 08:58:54:

My husband and I and the sellers of the house, signed a purchuse agreement. We had an inspection done on the house and also asked that radon testing to be done. We are paying for the test to be done, but the seller wanted us to sign a contract saying that if any radon is detected that we are responsible for all the fees to fix the problem. We didn’t want to sign it until all test were completed. They also wanted use to sign arbutration, which we did. Now we were told that the sellers want to back out of the deal and that they had signed a cancellation letter stated that they won’t sell the home to us. Is this legal after both parties sign and dated the purchuse agreement?

Re: backing out of a contract - Posted by Rich

Posted by Rich on April 06, 2007 at 24:39:23:

Is there an inspection period in the contract? If so, the buyer can usually do any test they want, ask for any repairs the tests reveal and refuse to buy if what they ask for is not done. However, I am not sure about a seller’s right to terminate the contract, unless there is something in the contract saying they can.