Legal Question in Real Estate Law in Connecticut

Contract

If we have already signed a contract to purchase a house, is it possible to back out due to a bad home inspection or we weren't qualified for the amount of the mortgage, and will we be able to get our full deposit back? Can you refer me to any legal cases that have occured in CT? Thank you.


Asked on 4/24/06, 11:51 am

1 Answer from Attorneys
Debra Palazzo Law Offices of Debra Palazzo, LLC

Re: Contract

Depends solely on what your contract says.

Is there a mortgage contingency clause? A declination letter from the bank should get you your full down payment back.

An inspection contingency? If so, same result.

If none of the above, you should see an attorney immediately. You may have to follow through on Purchase or risk losing the down payment.

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Answered on 4/24/06, 2:40 pm


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