Legal Question in Real Estate Law in California
condo purchase
I signed a contract to purchase a condo on Sat. Is it possible to terminate the contract? If so, what are the penalties?
Asked on 1/09/07, 6:21 am
1 Answer from Attorneys
Robert F. Cohen
Law Office of Robert F. Cohen
Re: condo purchase
The purchase agreement governs. There probably is a liquidated damages clause that would cause you to forfeit the deposit. If unsure, take the agreement to a lawyer immediately to assist you in making your decision.
Answered on 1/09/07, 10:26 am