Legal Question in Real Estate Law in Texas

Legal to back out of purchase?

After signing a contract between himself and an other individual for the purchase of 5 acres my husband found out information that was not disclosed by the seller. He decided he did not want to go through with the sale. Is it legal for him to back out of the deal and not lose the down payment? He informed the seller within 24 hours of signing the ''contract'' with the seller. Isn't there a law that you have 72 hours to back out of a sale contract?


Asked on 8/15/03, 12:52 am

1 Answer from Attorneys
Cheryl Rivera Smith The Smith Law Firm

Re: Legal to back out of purchase?

That law is for consumer loans or re-finances. I would need to look at your contract to see the obligations. You are welcomed to fax it to me and we can have a complimentary 30-minute phone consultation. Fax 214-265-1209. Phone 214-750-0606.

Read more
Answered on 8/18/03, 7:40 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Texas