answersLogoWhite

0

There's a good chance you can't cancel the contract except in cases of fraud, nondisclosure, misrepresentation or where specific contingency clauses were not met that you had placed into the contract. That's why it's imperative that consumers are 100-percent certain they want to purchase or sell a property before signing a sales contract, and that they fully comprehend all the terms of said contract. It is a binding deed. There is, however, a federal law that provides a three-day "right-of-rescission" period for residential properties, but it doesn't apply to loans made for the purchase of real estate. It only covers borrowers who are getting home equity and refinancing loans for their primary residence, or who are securing an extension of credit. You can contact the other party to the contract and ask if they wish to make a MUTUAL RESCISSION of the contract. Perhaps something can be worked out between you.

User Avatar

Wiki User

16y ago

What else can I help you with?

Related Questions

Is there are rescission period for a real estate rental contract in California?

Yes


Does Ohio have a right of rescission for real estate sales?

Rescission is allowed when there is Fraud, misrepresentation or mistakes- it is the act of cancellation or termination of written agreement or contract . And going back to the question, if there is legal basis to that, I think that any real estate agency, even the the buyers has all the right of rescission.


Where could someone find a listing of Colorado real estate lawyers?

One can find a listing of Colorado real estate lawyers on the Property Lawyers website where one can search for lawyers by location. One can also find them on Yelp.


How many days to cancel a listing with a real estate broker?

Read your contract.Read your contract.Read your contract.Read your contract.


How long is a real estate listing?

The length of time your property will be listed depends on your contract with your agent.


What is a "listing agreement"?

A contract in which a party hires a licensed real estate agent to assist them in the sale of property.


Is there a rescission period for a real estate contract in Ohio?

Generally, no. Every contract doesn't carry with it a right of rescission. They are more geared toward high pressure sales and especially sales contracts signed in your home from a seller who approached you where you live. You can read more about rescission and contracts in Ohio at the related link.Generally, no. Every contract doesn't carry with it a right of rescission. They are more geared toward high pressure sales and especially sales contracts signed in your home from a seller who approached you where you live. You can read more about rescission and contracts in Ohio at the related link.Generally, no. Every contract doesn't carry with it a right of rescission. They are more geared toward high pressure sales and especially sales contracts signed in your home from a seller who approached you where you live. You can read more about rescission and contracts in Ohio at the related link.Generally, no. Every contract doesn't carry with it a right of rescission. They are more geared toward high pressure sales and especially sales contracts signed in your home from a seller who approached you where you live. You can read more about rescission and contracts in Ohio at the related link.


What types of real estate are currently listed on Colorado MLS?

Real estate currently listed on the Colorado MLS include farm and ranchstyle houses, condos and more. You can view a full listing of real estate for sale in this area online at the MLS website.


Is there a 3 day right of rescission after a buyer signs a purchase contract to buy real estate in the state of Idaho?

In Idaho, there is generally no three-day right of rescission for real estate purchase contracts. Once both parties have signed the purchase agreement, it is typically binding. However, buyers may have the right to cancel under specific circumstances, such as during the inspection period or if contingencies are not met. It's important for buyers to review their contract and consult with a real estate professional for detailed guidance.


What does notice of rescission mean?

A notice of rescission is a formal declaration by a party to terminate or cancel a contract or agreement, typically due to a breach or other legal grounds. This notice informs the other party that the rescinding party intends to void the contract and outlines the reasons for the rescission. It is often used in real estate transactions, consumer loans, and situations involving fraudulent or misleading information. The notice typically specifies any necessary actions or timelines for compliance.


Where can one find a house's listing information in Colorado?

One can find information about houses that are listed for sale in Colorado by visiting real estate agents' websites. Among these are Colo Property and Colorado House Listings.


Is there a 3 day right of rescission on auto loans in the state of Louisiana?

No, Louisiana does not provide a three-day right of rescission for auto loans. The right of rescission typically applies to certain types of loans secured by real estate, but auto loans are not included in this provision. Once an auto loan contract is signed, it is generally binding, and borrowers should carefully review the terms before finalizing the agreement.