Backing up from a contingent contract in VA

[Helpp1z]

Virginia
l signed a contingent contract to buy a house after selling of mine. I was feeling sick when I first saw the house, I have Parkinson’s. At the final walk through I noticed the poor/rusty condition of AC system that most likely would not survive another year of service. Also I saw how tiny the washer and dryer are. Even if I will bring mine with me there will be remodeling and plumbing work needed to fit them in. The fridge is most likely broken because it has huge chunks of ice in it. Unfortunately I declined the inspection. How can I back up from the contract to pay as less penalty as possible? And what feels are could I be responsible for?

 

[AlmostThere]

It might be time to talk to a lawyer.

 

[adjusterjack]

How can I back up from the contract to pay as less penalty as possible? And what fees are could I be responsible for?

The final walkthrough is to see that the property is as it was during the initial inspection.

Back out now and you could lose your earnest money. And could be responsible for more if the house has to be resold, due to circumstances beyond the seller's control, for less than you agreed to pay.

Yes, time to talk to a lawyer.

 

[zddoodah]

l signed a contingent contract to buy a house

Contingent on what?

I declined the inspection.

What do you mean you "declined the inspection"? You declined to have it done?

How can I back up from the contract to pay as less penalty as possible? And what feels are could I be responsible for?

No one who hasn't read your contract can intelligently answer these questions. What I can tell you is that issues with appliances aren't likely valid reasons not to close.

I agree that you need a lawyer.

 

[quincy]

Virginia
l signed a contingent contract to buy a house after selling of mine. I was feeling sick when I first saw the house, I have Parkinson’s. At the final walk through I noticed the poor/rusty condition of AC system that most likely would not survive another year of service. Also I saw how tiny the washer and dryer are. Even if I will bring mine with me there will be remodeling and plumbing work needed to fit them in. The fridge is most likely broken because it has huge chunks of ice in it. Unfortunately I declined the inspection. How can I back up from the contract to pay as less penalty as possible? And what feels are could I be responsible for?

If you paid earnest money when you signed the purchase agreement, you will more than likely lose this deposit if you back out of the contract now. This would depend on the contingencies in your purchase agreement and if any of these contingencies can get you out of the contract without penalty.

 

[AlmostThere]

Without knowing the price of the house:

I would not let the size of washer and dryer drive my home purchase decision. How old are the units? Washers and dryers should last about 10 years - if they are more than a few years old, you are going to be replacing them soon. You could sell the small units and purchase something that better meets your needs.

The AC is a much bigger issue. Can request an inspection of the unit now, at your own cost? You may be pleasantly surprised.

 

[quincy]

It is not unusual to have appliances like refrigerators and/or washers and dryers excluded from a house sale. Including them is optional. Central air conditioning, on the other hand, is something that should be in working condition or noted on the homeowners disclosure form as needing repair or replacement. If the seller has failed to disclose known defects, that could provide a legitimate reason for backing out of a purchase agreement.

 

[Zigner]

It is not unusual to have appliances like refrigerators and/or washers and dryers excluded from a house sale. Including them is optional. Central air conditioning, on the other hand, is something that should be in working condition or noted on the homeowners disclosure form as needing repair or replacement. If the seller has failed to disclose known defects, that could provide a legitimate reason for backing out of a purchase agreement.

Per the OP, the AC is functional. In fact, the OP implies that it is working satisfactorily and is simply conjecturing that it may break down in the near(ish) future.

 

[quincy]

Per the OP, the AC is functional. In fact, the OP implies that it is working satisfactorily and is simply conjecturing that it may break down in the near(ish) future.

Yeah. That would be a problem for Helpp1z in that it’s not a problem.