Legal Question in Real Estate Law in New Mexico

Home purchase derailed

I am currently in process of buying an ''as-is'' house. Have a signed purchase agreement and went forward with home inspections (paid my myself). Property not in escrow per seller's addendum due to my clause that purchase could be terminated depending on finds of inspection. Seller has now come back and said he wants to back out of deal because he will not net-out enough money. He thought he would walk away with full purchase price that was agreed upon. I want to recoup the money I spent out of pocket for inspections. The seller if out of state (in Florida). The property is in NM (where I live). What state's forms apply?


Asked on 7/18/08, 12:17 pm

1 Answer from Attorneys
Charles Aspinwall Charles S. Aspinwall, J.D., LLC

Re: Home purchase derailed

It is not clear that the seller has the right to refuse to carry through with the sales agreement, but the law which applies is the law stated in the agreement or, if none is stated, then the law of NM where the property is located.

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Answered on 7/18/08, 5:38 pm


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