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Is it true that Missouri Real Estate Law allows a home ...

Sent to Legal Experts April 27 07:42 PM

Is it true that Missouri Real Estate Law allows a home buyer (purchaser) the right to back out of the purchase of a home anytime up to and including the closing date?

 

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wildwood, Missouri

Customer (name blocked for privacy)
Status:  Closed   Value: $20
Answer
April 27 8:43 PM (1 hour and 1 minute and 34 seconds later)
         
REPLIEDCheck Mark
No, that's crazy and just an old wives tale.

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April 28 11:32 AM (14 hours and 48 minutes and 30 seconds later)
         
Reply to LegalEagle, LLC's Post: What are the legal ramifications if I want to end the contract and purchase a different home?
Customer (name blocked for privacy)
Answer
April 28 3:44 PM (4 hours and 12 minutes and 40 seconds later)
         
ACCEPTEDCheck Mark

Unless you can negotiate a rescission of the purchase contract with the owner, at a minimum you'll lose any deposit that you've made and you could also be sued for specific performance. Specific performance would require that you actually be ordered by the court to fulfil the contract or pay any losses incurred by the seller in remarketing the home.



Attorneys are limited to offering specific legal advice in states where they are licensed. Online responses offered here are ADVISORY OPINIONS only and should NOT be considered specific legal advice! Consult a local attorney for specific advice.
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