AboutMelinda Gossard Expertise I can address the aspects, how-to's, and tips when buying/selling homes in Maryland & Pennsylvania.
Experience Licensed Realtor in the MD and PA area over 5 years.
Organizations Rebac, CRS, NAR, MAR, Pen-Mar (local board, currently Treasurer of)
Education/Credentials Bachelor of Science - Sociology
Accredited Buyer's Representative (ABR)
Graduate, Realtor Institute (GRI)
Internet Professional (E-PRO)
Associate Broker - M
Awards and Honors 2006 Pen-Mar Realtor of the Year
Graduate of the 2006 MAR "Leadership Academy"
Expert: Melinda Gossard Date: 7/10/2008 Subject: get out of contract
Question If your financing fell through on a house you were "going" to buy and now want to stay in your current home, how do you get out of the sales contract on your current home?
Answer It depends on what the contract says on your current home. Read it carefully. Normally you know whether or not your financing will work on a new purchase before you accept an offer on your current home. Sometimes situations and finances change though.
Worst case, you'd have to break your contract and hope that the buyers did not think it was important enough to sue you.
Read your contract, and maybe run the situation by an attorney before you act.
