Cancelling an Executed Contract

**koodeep** · 01-21-2010, 01:06 PM

Hello,

Here is our situation - We recently signed a contract and put down a deposit with a local builder for a new construction home. Shortly afterward (a couple of days), another builder we had been scoping out in the past calls us to alert us on a brand new promotion, which included a larger house for less money as well a TON of upgrades included. The house we signed for did not come with any upgrades. Both builders are in the same area of town, so we immediately felt buyer's remorse.

Since the contract was signed on a Saturday, we were able to put a stop payment on the check (per our agent's suggestion) before the builder could cash it, though they still hold it. What would be the ramifications if we voided the check all together? We are sort of in a time pinch as the promotion will be ending in a few days.

Thanks for any advice,
Ryan

**123MichHolding** · 01-28-2010, 12:58 PM

You should call an attorney and ask. The laws of each state are different on this issue, so I don't want to venture a guess. An attoreny can tell you pretty quickly what your rights are. It'd be worth the small expense for the legal advice given that you're making am major purchase. Good luck!

**thailand office leasing** · 01-28-2010, 11:44 PM

if you stop the payment for the check then your making your self in trouble. You cannot easily break a written contract without a help of an attorney so find a good one.

**Makati Condos** · 02-21-2010, 10:11 PM

I agree with them that breaking any contract against the law is not a smart idea,once you signed that contract it means that both of you agreed all the terms and condition between you and the other party,so it's better if you consult an attorney to help you in this case.