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    referee's Avatar
    referee Posts: 1, Reputation: 1
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    #1

    Sep 17, 2007, 08:51 PM
    Breaking a real estate contract
    I signed a contract to buy a house 7 days ago, had a home inspection, signed off on addendum that said I would waive certain repairs yesterday. Today my dream house came on the market and I want to break the contract so that I can buy this one. I put a good chunk down as a deposit. What are my options?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Sep 17, 2007, 08:56 PM
    Not to buy a house unless it is the one you really want.

    If you have already signed a contract, did the home inspection and accepted that, you are fairly well buying this home.
    You need a real estate attorney to review the complete contract to see if there is any way out at this point.

    But the contract is to protect both parties, one, to protect you, so that they have to sell you the home after you have a signed contract and meet the terms. But also to protect the buyer, who has taken it off the market and has been making plans on the sell.

    So perhaps you should not have bought a house unless it was the house of your dreams,

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