I want to walk away from a house purchase / closing?
401721
You run the risk of being sued for performance.  This is breach of contract.  You need to provide more info regarding the contract and if any contingency clauses warrant your legal right and ability to retract this agreement.
1087437
You have a number of choices depending on the situation.\n\n1. If you have a buyer agent representing you, tell your agent that you refuse to close until the repairs have been done. If the seller has agreed to the repairs but has not yet done them you can delay the closing until they are done (if you still want to purchase the home). Another alternative is that you might ask your agent to help you get estimates as to the cost of these repairs. Then you can either ask the seller to give you that amount of money in lieu of repairs (and do them yourself after closing) or adjust the purchase price to compensate you for the money you will have to spend to do them yourself. A third alternative is to allow the repairs to be completed after closing and still close on time. The amount of money that your bids indicate that the repairs will cost can be held in escrow by the title company until the seller has had them done to your satisfaction. Once that happens, you notify the title company and they can then release those funds to the seller. Your buyer agent can help you with these options and prepare the appropriate paper work.\n\n2. If you are not represented by a buyer agent and are dealing with the listing agent (who represents the seller), that agent can help you as well, even though that agent is technically representing the seller. The Realtor Code of Ethics demands that all agents treat customers as well as represented clients fairly and honestly. Tell the listing agent which of the above options you want and let the listing agent negotiate with the seller to see what he will agree to. You must be clear as to what you want and get the seller's agreement in writing (i.e. in the form of an addendum to the contract).\n\n3. If you are unrepresented and the seller is a "for sale by owner", you still can pursue the options mentioned above, but you will have to negotiate directly with the seller on these matters. Perhaps the title company or a real estate lawyer can help you with the paperwork for this (get the seller to agree in writing for whatever you mutually agree upon). Often title companies have lawyers on staff who can write appropriate documents to cover this type of situation. There might be a fee for this, but it might be worth the cost compared to what you will save for the repairs. In some states all buyers and sellers have their own real estate attorneys. If this is the case in your state, have your attorney help you.\n\n4. If you have decided not to purchase this home, you can probably get your earnest money back, but you will not normally be reimbursed for the appraisal or your inspection. If it is a FSBO situation, you might have problems getting your earnest money from the seller, in which case you might have to take him to court to get this money back. You will have to weigh the costs of whatever course you decide to pursue.\n\nThis kind of situation points up the importance of having a buyer agent to represent you in a real estate transaction. Check particularly that your agent is either an ABR (Accredited Buyer Representative) or a CRS (Certified Residential Specialist), which indicate advanced training and experience. Real estate professionals deal with problems like this often, and can help negotiate a solution agreeable to both sides. Laws and practices vary from state to state, but in many states such as Arkansas there is no extra cost to the buyer if the home he is purchasing is listed with a real estate agent. In the latter case, all commissions are already included in the price of the home. \n\nIf the home is a "for sale by owner" you can still have a buyer agent in Arkansas and many other states. It may cost you a little extra for the home (to accomodate payment to your real estate agent), but when problems (such as the one described here) arise in a real estate transaction, your agent will go to bat for you and help you through these situations and end up saving you money and aggrav
328245
Contact the Bank/Mortgage company send them a copy of the Quit Claim Deed and your current home address with copy of rental agreement and utility bills, requesting them to remove you from the loan.
347080
File bankruptcy today. Only way to stop sale and give yourself some time. File a ch 13 than once that get dismissed  file a ch 7 the same day.\n\nIf you play in the courts by continuing the case it can take up to 6 months before they can sell. I would use that time to either sell the home or find a place to rent. \n\nAlso once the home is sold they still have to evict you, so if you learn the laws you can stay even longer by working the courts. Usually the people that buy at the sheriffs sale will offer you some money a couple grand to leave, so you don't tie up the property in court. There is an attorney that a company has been trying to evict  for over year since they foreclosed.  \n\nLaw do vary from state to state on forecloses.
667306
Why not actually move into one of the units.  Then you are completely above board (though the *wink*wink* will probably work ok too).  \n\nAs to how to do it, there is no best answer, it depends on your situation.  \n\nThe route I would follow is, find out first off how much money you will need.  Be sure to budget for closing costs, fixup, etc; and be sure to ask several banks/ brokers to get the best number.  \n\nNow, just figure out how you can get that money at the cheapest cost to you.  If you have the money, great.  If you can take out a 2nd cheaply and get it, do that.  If you need to refinance, do it.  I'd make sure I had the money (or at least a plan for how I would get it) before putting down a contract though thats not required.  Of course make sure the contract has a financing contingency, and a general contingency it the seller will allow it (a general contingency like "contract is contingent upon approval of spouse" - if you get this is there are decide later you don't want the place, shouldn't be to hard to have the spousal contingency fail).\n\nI guess the easiest way to put this is, figure out exactly what you want (a 2nd 2 family), exactly what you will need to get it (x dollars, plus y hours of time, etc) and then do whatever you need to do to reach your goal with the minimum cost and time loss to you.  I realize this is a general statement but without knowing more about you I can't make it more specific.\n\nAlso, I always hated even bending the law even in the really minor way you describe (though I did it a few times) fearing it would come back to haunt me someday.  I got lucky and it never really did hurt me much, and now I'm totally above board.  I'm not suggesting you not do the *wink*wink*, just that you avoid that as much as possible.\n\nBest luck.  Also, by the way, there was an extremely active foreclosure specialist in my area who just got caught with something like 120 properities in her name, all of which she had bought as an owner-occupant.  I guess if she can get away with it 119 times (plus the 100's she sold over the years), you can get away with it once.
824322
Well, if you don't want to go the auction route you have a couple different options.\n\n1) Preforeclosures.  Get an online listings source and find pre-foreclosures (I use foreclosure.com).  Now you can identify the property you like (get funding!) and make a proper offer.   You will also help the home owner slide without a foreclosure on their record.  \n\n2) Foreclosed.  Meaning ones that don't get sold at auction become REOs.  Or bank-owned properties.  Then you can go straight to the lender and wheel and deal.  You should probably have a buyers agent though, to look out for your interests.  They may even get you a deal if you finance through them.\n\nOk. good luck.
638680
Unless you are the buyer or the seller, it's really none of your business. If you try to approach potential buyers, and you do not word things in exactly the correct way, you could get sued when they decide not to buy. The buyers will be having a home inspection prior to closing; hopefully they've selected a good home inspector who will catch these things. But you should stay out of it unless you have a financial interest in the sale of the home, or unless you like getting sued.
946640
By all means. Yes! however , I wouldn't be asking nor would I be demanding. The best approach is a non-confrontational statement of facts approach that goes something like this: Our lender has sent out his appraiser to your house. The dollar amount they are willing to lend does not provide sufficient funds for us to consummate the purchase of your house at the price we thought we would be able to pay. We still would love to buy your house but to do so we would only be able to pay "X". If this is agreeable to you please let us know ASAP as we will need to continue our house search if it is not.\nOh, by the way someone has removed part of the climbing wall that we had both agreed would remain and I have 3 estimates attached to this letter for what it would cost to put it back in the condition it was in when we reached our agreement. This also needs to be addressed either thru the replacing of the missing portion of the climbing wall or the retention of "X" dollars in escrow to cover the cost. Thank you. We look forward to hearing from you and hope we can work out these details speedily.\n\nDO NOT CLOSE ESCROW UNTIL YOU ARE SATISFIED. Everyone else makes money when you close. The seller, lender, Realtors, title company etc. YOU HAVE THE POWER TO HAVE IT YOUR WAY UNTIL YOU CLOSE ESCROW THEN IT ALL GOES AWAY.
327788
block it out, take a walk 2 get away from every thing. that what i do....u not alone; me go though it all the time.
860588
There are companies that walk in and close a sale in one day; but don't shoot yourself in the foot, you will probably realize more from the sale if you advertise it and go through a realtor.  A broker or realtor can handle the sale even if you are out of state; pick an experienced, reputable one.
123072
Yes, move out.  You can do better.
341443
Go to the local Tax Assement.  Unpaid taxes get taken out of the sale of a house at closing and can go on for years so you might not be able to motivate some people to sell that way.  I think it all depends on what city you are in.
801250
Talk to any local realtor.....If they won't do it msot can refer you to someone who will.
160408
get  a lawyer !   move  out   and  take  it  all   cars  boats , guns, computer   everything   even  the  ice  trays !  if  you   own  the home  it  can  always   be   sold  or  re deeded  . you  could  also    hire  a   private detective   and    investigate   prior infidelities  which  could  lean  the  court  in  your  favor  being a  "victimized"  "faithful"  housewife.....Take it all flip em  the bird  and  smile  all the way  to court
709074
Post a Policy Statement on the Front Door.\n\nTry negotiation - no money , no looking after boo-boo.\n\nGet payment in advance....\n\nBeats working for nothing.
1106673
if you can agree with the buyer you can set anyday to move out. its up to you and the buyer
1031949
No, you can't The house sale is usually contingent on appraisal and loan approval. That means you can decide not to go through with the purchase. If you read the loan application, I'm sure there is something that says they aren't going to lend you if there is something they don't like about the house such as termite, roof leak, etc. Your other option is to ask the seller to repair them.