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I'm I stuck with this contract?

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M

monroedave

Junior Member
What is the name of your state? Florida.

I just made an offer on a manufacture Home, and gave my realtor $2,000
on what I thought was just good faith money. An agreement was drawn up
and of course I sign it. I had no idea that it was a binding contract.

The problem is when I went to applied for a loan I found out that a loan for a manufacture home was way higher than a regular home loan.
So I call my realtor and told her I wasn't interest in buying the house.
She told me that I had sign a contract and that I had to buy the house.
My question of course, is she right, or can I get out of this?
Today date 01/14/2005 I sign this contract two days ago . Can I still get my $2,ooo Back?

Sign Stupid in Florida.
:D
 


H

HomeGuru

Senior Member
monroedave said:
What is the name of your state? Florida.

I just made an offer on a manufacture Home, and gave my realtor $2,000
on what I thought was just good faith money. An agreement was drawn up
and of course I sign it. I had no idea that it was a binding contract.

The problem is when I went to applied for a loan I found out that a loan for a manufacture home was way higher than a regular home loan.
So I call my realtor and told her I wasn't interest in buying the house.
She told me that I had sign a contract and that I had to buy the house.
My question of course, is she right, or can I get out of this?
Today date 01/14/2005 I sign this contract two days ago . Can I still get my $2,ooo Back?

Sign Stupid in Florida.
:D
Click to expand...
**A: first, if there is no land involved, then the sale is not considred a real estate sale. 2nd. if the Realtor is any good, the contract should have contained contingencies which would have allowed you to terminate for cause ie. financing not acceptable, home inspection results poor etc.
Without a review of your contract in its entirety, we are not in a position to advise you.
 
J

JETX

Senior Member
HomeGuru said:
**A: first, if there is no land involved, then the sale is not considred a real estate sale. 2nd. if the Realtor is any good, the contract should have contained contingencies which would have allowed you to terminate for cause ie. financing not acceptable, home inspection results poor etc.
Without a review of your contract in its entirety, we are not in a position to advise you.
Click to expand...
I would like to clarify something in HG's post....
HG is correct in that the contract should include some contingency clauses, there is no statutory obligation that it have them... nor is it voidable if the clauses are not there.

You need to read the contract YOU signed. If there are any 'escape clauses' that apply to your circumstance, use them. Personally, I doubt that there are any.... and your only options would be to abide by the agreement YOU signed.... or accept the consequences of breaching the CONTRACT that YOU SIGNED!!!
Did you happen to notice the emphasis on the contract that YOU SIGNED???
 
Last edited:
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