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08-08-2006, 07:26 PM #1
Renter
- Join Date
- Aug 2006
- Posts
- 1
Buyer wants out
I signed a contract for buying a house and after one business day decided to cancel it. My attorney sent a cancellation letter but the seller has threatened to sue me for breach of contract and damages ( holding costs and any difference in new selling price of property) + lawyers fees. I have not yet payed the escrow amount.
What chance do I stand?
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08-08-2006, 10:01 PM #2
Condominium
- Join Date
- Nov 2005
- Location
- Beautiful Central Oregon
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- 189
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your attorney can answer that best...
Here are the standard loop holes in Oregon however,
You have a number of business days to approve or disapprove the preliminary title report.
You are entitlted to a home inspection period - if your contract specified one... and you can disapprove that report.
You are to be given a property disclosure - which you have 5 business days to approve or disapprove.
You and the property must qualify for the loan
there are others depending on how the contract was written - that is where your answers will be.. that and your attorney.Thesa Chambers
Specializing in
Central Oregon Real Estate and a Central Oregon Real Estate blog visit this blog for more information on Sunriver or Central Oregon
Principal Broker with Prudential NW Properties
La Pine, Sunriver, Three Rivers South and Bend
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