Q: I am scheduled to close on a home next week. I am unhappy with the lender and want to cancel the whole deal. Can I?
I made an offer on my first home last month. Everything from that moment with my lender has been a mess. No communication, inaccurate information, snide comments, 3 weeks for a VA appraisal, etc. I've told my realtor that I can't be comfortable with this lender anymore and want to cancel this purchase. I know I forfeit the earnest money and lose the money on the inspection and appraisal. Can I be sued? Am I now going to be forced into a purchase that I'm not comfortable with anymore? I emailed my realtor last night that I wish to withdraw, and he has yet to respond. I've notified the lender that I wish to cancel, but they need a contract cancellation from my agent. Am I looking at needing to hire an attorney? I'm a fully disabled veteran, so I have limited income for them to take. However, the lack of response from my realtor has me concerned. He typically responds within minutes.
A: Yes. Just notify everyone in writing that you are canceling the transaction.
1 user found this answer helpful
A: You would need to closely and thoroughly examine the trend of your contract of sale in order to determine what the potential consequences may be as a result of your canceling the deal.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
