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kimlazcano | Is there a way of getting out of a recently purchased Home? |
We purchased a home in May and I do not like the location.. I guess I didn't do enough homework before we bought it, actually I felt pressured by our Mortgage Company to buy. Is there any way of getting out of it and buying somewhere else? I don't think our home will sell since they are still building and selling New houses in the area.
Additional Details
Yes we can AFFORD the house, we got a very good deal on it. the location is what I don't like. |
 |
 
RM
|
No. |
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Predatorprey
 |
Nope, once the contract is signed I think you have like 3 days (and pay all the fees charged) to back out but sounds like your way past that.
A deal is a deal. You signed the dotted line.
Sorry to hear you were pressured to buy a house.
Let this be a life lesson
Next time if you do not like something in a contract DO NOT SIGN IT!!!! |
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Marysue
|
Of course you can sell. You’ll just have to price it low and take an enormous loss. At this point selling is the only way out because you own the house. |
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bianca
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In order to get rid of this one- you need to sell the house or try to do short sale or let it go in foreclosure. Except selling the house other things will affect your credit and prevent from buying new house for a couple of years- no lender will give you the loan for a while. |
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Mr Placid
 |
Sure you can get out. Being pressured is always an acceptable reason to undo any transaction. Being pressured into buying a car, pressured into taking a job, pressured into quitting a job, pressured into getting married, pressured into quitting school, pressured into having sex, pressured into ________. Always an excellent reason for reversing the consequences of making a bad decision. |
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acermill
 |
No, you cannot back out of a purchase once the deal is closed. All you can do is place it for sale, hope it sells, and then buy a different one you like better. |
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Matthew R
 |
If you are moved in and everything, no, I don't think so.
If you haven't closed yet, you can use your contingencies in your contract like an inspection contingency, etc |
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josh j
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wow so the seller should pay the price, what a terrible human being you are. Maybe you should have bought a house you could afford, please like that's not the reason you wanna get out of your mortgage, enjoy foreclosure. |
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Kare
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Ask a realator about a short sale |
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