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Worried Before Closing |
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Hi
I am closing tomorrow on a house, but I am two minded about it? I did not like the home inspection report, and found out that the house need at least another $20,000 to make it livable?
I am under a lot of pressure form the lender and the real estate agent? Telling me that I am getting a good deal. The hous is appraised at $94,000. I am financing $81,000. But back in my mind I need to put at least another &20,000 that would be for a heat pump, windows, doors and a brick chimney which is leaning 6 inches away from the house. The house is 71 years old.
I was told that I could get sued by the seller if I back away is that true?
On the purchase agreement I agreed to buy the house based on the financing approval and the inspection report, which I was unhappy with? When I made the offer to the house for an amount of $89,000 that was before I hired a home inspector to inspect the house in detail? Will I get sued if I walk away from closing? Plus my whole family is against me buying this house? They think it is too early for me? I am graduating from college this month in about three weeks?
Your advise is truly appreciate it?
Edmir |
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Your purchase contract should have been worded so that you could cancel the deal if a home inspector's report wasn't satisfactory. Perhaps you had that right, but even if you did, the time to walk away was right after you received the report, not on the day of the closing.
Call a real estate lawyer first thing in the morning and discuss the whole situation. That's my advice. |
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Edith
Originally published on November 29, 2007 |
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