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Dannyga

after I have a deal signed with seller

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Ok after I have seen the home and I have a deal signed with the seller (tired landlord)

On a LP deal. I find out the seller lied (example etc), and I don't want to go through with the deal, can the seller make me go through with the deal?

Thanks

Danny

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Hi, Danny. Your question is somewhat vague. I think the answer depends upon the extent of the lie.

For example, if a homeowner lied about, say, the age of the garbage disposal I don't think you'd have a strong case for terminating an Agreement.

On the other extreme, if the lie was about something that clearly affected the value of the property I think you would be in a much stronger position. Keep in mind........I am not an attorney, and so I am just offering up my opinion.

Last thing, Danny. A good contract will have a few clauses intact to protect you in the event such a thing happens. For example, a cancellation clause, and a guarantee that you will be receiving good title, etc.

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Most states have a "Buyer beware" attitude when it comes to real estate purchases. And in any jurisidiction it is the buyers' duty to do his due diligence prior to taking title. The contract of sale will provide for the condition of the property, provide for inspections and set out the issues that will be a deal breaker, provide for real estate financing if necessary and provide for the matters that are to be satisfied prior to closing of title.

 

Wes

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