Evansville, IN asked in Real Estate Law for Indiana

Q: I am in the middle of a purchase of a home. I have buyers remorse. No other offers were available. Can I back out?

No other offers on the table, no money spent to prepare house, we have signed all documents leading up to purchase but signed 2 weeks prior but have 2.5 weeks until closing. My wife lost bonuses from her job due to Covid-19. Can I back out if I pay for all closing expenses occurred to this point and give an additional 2k to cover the house expense for the month?

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1 Lawyer Answer
Vincent Gallo
Vincent Gallo

A: You’re right and your obligations should be defined in the contract that you signed. If, however, you strike a deal with your seller which is amenable to both sides, anything is negotiable.

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