Legal Question in Real Estate Law in Oregon

backing out of a real estate transaction

We want to back out of a contract set to close in less than a month. The sellers did not meet contractual

inspection repairs on due date, and had back dated recipt to 3 days after work was to be complete. It was done about 11 days after contract date.They have since had repairs done...not to our satisfaction. The seller is an attorney and we did put down $3,000 ernest money.

We had looked at another home in the same neighborhood after we were under contract, with said house, and the sellers agent found out about this and asked our agent if we really wanted to buy the home. I am afraid they could use this info against us. We do have another home we want to buy, but need to get all of the way out of this deal first. What course of action could they take besides keeping ernest money?


Asked on 5/21/08, 11:49 pm

1 Answer from Attorneys
Daniel Meek Daniel W. Meek

Re: backing out of a real estate transaction

If the seller indeed did not perform his obligations under the contract, then you are not obliged to close. And you are entitled to get your $3,000 back. The seller may not voluntarily give it back, so you would have to go to small claims court for it.

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Answered on 5/22/08, 3:16 pm


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