Expert: Dick Dennis - 12/7/2007

Question
I contracted to buy a house with a contractor and now I want out for several reasons. I want to know if the loan will be in both my wife and my self does she have to sign the contract as well also the contract stated I must have finance in 30 days which did not happen is this make the contract void. Truth be told contractor made some bad mistakes before walk thru and doesn't want to fix them and I don't want to buy the house now even if he goes back and trys to make it right

Answer
Since I have not read your contract, I can only be general, Will. Keep this in mind: Never, never, never sign a building contractor's contract without having your real estate attorney looking over your shoulder. Their contracts are notorious for being one-sided.

Before you do anything else, take your copy of the contract to a knowledgeable real estate attorney and ask him/her how you can get out of it. Your state is unique with their own real estate rules and laws. Some states make automatic that your wife is part of the contract. Some don't.

But in virtually all of them, when the construction is faulty, you should be able to get out of it. An attorney will show how it is done. I do wish you well.

Dick Dennis