Can I back out on my closed home deal?
I closed on a home last November 2022. During inspection I got a recommendation to get the foundation checked and the seller provided it at his cost. The inspection report showed no concerns regarding the foundation but now it's squeaking, cracking and unlveled. What can I do, can I back out? by alyssa353 from Chandler, Arizona. Jan 3rd 2023
John Burke (jburke)
#27 ranked lender in Texas - 321 contributions
Hi Alyssa353, Unfortunately no, you cannot back out but you can call the inspection company and express your concerns to them. You can also call your real estate agent to see what they think. | John Burke | Senior Mortgage Banker | Lending in ALL 50 states | www.yourtexasmortgagelender.com|Stride Bank | jburke@stridebank.com | (877)228-9069 | NMLS# 787231 |
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions
No, you can not back out. The first inspector noticed something, hence the additional inspection. While that showed no concerns, all I can say is that many inspectors miss a lot. Bottom line, you were informed, you chose to move forward. Unless that committed some sort of fraud hiding an issue, you probably have no recourse. Good luck. I lend for homes in MN, WI, IA, ND, and SD. Find me at JoeMetzler.com | Cambria Mortgage | NMLS 274132
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