I am in Pennsylvania. I did not have the foresight to have a lawyer review my contract before I signed it. The closing date I have signed up for is 2/18/08 and they have listed the house for Sheriff Sale on 2/22/08. The house was put up for Sheriff Sale by the Mortgage Company after the drafting and offer of the purchase contract, but before the Execution Date (the date they accepted the offer). They accepted the offer while the house was up for Sheriff Sale.

I will not be able to close by 2/18/08 because the bank requires my W2s which I received on 2/5/08. This means I will default on the contract (seller is not willing to extend the closing date).

Is there any way I can back out of the contract now because they left it listed for Sheriff Sale even after I put money down? If I cannot I will lose my deposit and perhaps be taken to court for extra costs of having the house off the market? Unfortunately I put faith in the Agent who I thought was objective (another mistake on my part).

I already had the home inspection and am past the 15 days I had to raise a claim. I was told that because they were a bank they would not work with me at all so even though we found issues with the home (knob and tube, sagging beam on the front porch).

They have been jerking me around for close to 6 months. I was OK with it because I wanted the house, but this Sheriff Sale thing has just pushed me over the edge.

Is there any legal way to get out and get my deposit back? How about is there any legal way to get out, only lose my deposit, and not be taken to court for additional costs?

I know I messed up, but I was hoping someone could offer their opinion. Thanks in advance.

You need to get an atty to read the contract and see what options you have. You need to do this tmmw. Its possible the atty can file a stay of the Sheriff's sale.