Results 1 to 2 of 2
  1. #1
    Join Date
    Dec 2007
    Posts
    1

    Default Withdrawing From A Purchase Agreement

    We recently signed a home purchase agreement in Michigan state which includes a offer and also a deposit of $ 10 K . Builder's agent informed us about builders acceptance after 2 weeks but the check was deposited in about 10 days after we signed up (Before we were informed ) Now we would like back out/withdraw from the agreement because of some personal reasons - Is this possible ? As per the agreement we have 9 business days to withdraw after receiving all the documents stated in the agreement, We do have a copy of the purchase agreement but the sellers agent forgot to give us a Michigan law statement booklet which should be included as per the document . Now she says we can not go back and if we do we will be losing our initial deposit . And also sellers agent is being very harsh to us - Please advice/help -
    Thank You -
    Michigan

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Withdrawing From A Purchase Agreement

    You can try. I suggest verifying with a real estate lawyer that the failure to provide the brochure is a sufficient basis for canceling the contract - if you're wrong, you won't get your money back. Be sure to take the documentation to your meeting with the lawyer.

    The seller's agent doesn't want you to withdraw, because if you do she may not get her commission.

    1. Sponsored Links
       

Similar Threads

  1. Purchase Contracts: Backing Out of a Purchase Agreement
    By newinvestor in forum Buying, Selling and Conveying Real Estate
    Replies: 1
    Last Post: 03-21-2010, 01:50 PM
  2. Purchase Contracts: Purchase Agreement in California
    By biohazard3738 in forum Buying, Selling and Conveying Real Estate
    Replies: 4
    Last Post: 09-12-2008, 12:26 PM
  3. Purchase Contracts: Purchase Agreement
    By DrPeanut in forum Buying, Selling and Conveying Real Estate
    Replies: 1
    Last Post: 02-02-2008, 06:54 AM
  4. Purchase Contracts: Getting Out of a Purchase Agreement
    By lafamily in forum Buying, Selling and Conveying Real Estate
    Replies: 1
    Last Post: 09-15-2007, 01:07 PM
  5. Purchase Contracts: Getting Out Of A Purchase Agreement
    By donnas in forum Buying, Selling and Conveying Real Estate
    Replies: 2
    Last Post: 08-24-2007, 07:53 PM
 
 
Sponsored Links

Legal Help, Information and Resources