Legal Question in Real Estate Law in Colorado
We are in Colorado and we purchased a used trailer home in an RV park. After purchasing it we discovered alot more problems with it than we had seen prior to the purchase. We put down $3000 in cash on the trailer home. The only thing in writing was the numbers for the down payment, the total price and a few other details written on a piece of paper and we both initialed the paper. There was no formal contract. We changed our minds now and do not want the trailer home. It has been less than 24 hours since we purchased the used trailer home. Can we get our down payment back?
1 Answer from Attorneys
Frankly, I doubt it. It is not clear that you can even avoid liability for paying the remainder of the purchase price. You may have made a very expensive mistake.
You can always ask the seller if they are willing to unwind the deal and cancel the contract.
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