Backing out of contract
This is a discussion on Backing out of contract within the Buying & Selling Property forum, part of the REAL ESTATE & PROPERTY LAW category; South Carolina Recently signed a purchase contract. Closing set for May 27. Seller's disclosure listed no problems. Went to house ...
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Mar 30th, 2009, 02:00 PM
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Backing out of contract
South Carolina
Recently signed a purchase contract. Closing set for May 27. Seller's disclosure listed no problems. Went to house during heavy rain and there is moderate to severe ponding in the yard completely surrounding the house leading me to believe there could be a flood problem. The stormwater drainage pipe opens up to pour water the runoff right into the yard. Is this sufficient reason to back out of contract even if there hasn't been water damage yet? I paid $500 earnest money..if I don't get that back, that is fine. I just don't want this house anymore. |
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