I am needing legal advice, I am a first time home buyer. My contract has a "time is of the essence" clause with a specified closing date. Due to the sellers deciding to travel on the closing date, they are trying to extend the closing date. This is difficult due to mine and my husbands work schedules. If we do not want to wait several more weeks to close, can we back out of the contract without risk of being sued? Thanks for any help!
Are buying the home without the advice, counsel, and assistance of a real estate attorney?
Are you allowing a real estate salesperson (whose job is to sell the seller's home for as much money as can be bilked out of the buyer's) to advise you?
Risky, and as you're asking, can you get sued?
Getting sued is never a worry.
Getting sued and losing, or being sued because you acted on the advice of an unqualified in the law, real estate salesperson whose function is to fleece unsuspecting, trusting sheeple is always a cause for concern.
If so, you could be headed for trouble.
Read the documents you signed, especially the purchase contract.
If I were you, I'd retain the services a trusted real estate attorney.
Why?
To make sure you'll receive everything you're buying, when you're supposed to receive, to ensure you aren't overcharged any worse than you have been so far, and to ensure that the deal goes down according to the contract.
The real estate salesperson does what every salesperson does, sell you something for the most money with the least effort on the salesperson's behalf.
If you're buying direct from the owner, the risk is just as great, although some say greater for the buyer.
HINT: I was told by a salesperson years ago, sellers are wolves, buyers are sheep. Wolves love to feast on tasty, timid, unsophisticated sheep.
You need a tiger, a sharp real estate lawyer to help you avoid being fleeced, or even eaten.
