So… TIFU! I, the over eager first time homebuyer, didn’t check my emotions at the door when looking at a home for sell.
Here is the situation:
We weren’t planning on buying a home for 5 more months, but went to an open house for a home just to get the feel of what it’s like to shop for a home. The home was significantly discounted and the agent said that he could get the sellers to cover our closing costs. Caught up in the moment we made an offer and it got accepted and now we are under contract. This all happen in the space of 8 hours.
After sleeping on it we realized WTF are we doing? There are things we don’t really like about the house! It is literally the first one we saw in real life! The agent said we can get out of the offer and that making the offer was just to “get the ball rolling” so here is how I think I can get out…
The contract says
“Buyer's obligation to purchase the Property is conditioned upon Buyer's Due Diligence…Buyer's Due Diligence shall consist of Buyer's review and approval of the contents of the seller Disclosures…and any other tests, evaluations and verifications of the Property deemed necessary or appropriate by Buyer, such as:… convicted sex offenders residing in proximity to the Property; and any other matters deemed material to Buyer in making a decision to purchase the Property….If Buyer determines, in Buyer's sole discretion, that the results of the Due Diligence are unacceptable, Buyer may either: (i) no later than the Due Diligence Deadline cancel the REPC by providing written notice to Seller, whereupon the Earnest Money Deposit shall be released to Buyer without the requirement of further written authorization from Seller;
We have a baby and there are three registered sex offenders within an 8-minute walk in the neighborhood and seven within a 1 mile radius. The three were convicted of: Use of Interstate Facilities to Transmit Information about a Minor, Sexual Intercourse Without Consent, and Possession of Child Pornography. So, it seems serious.
Another mistake I realized I made was that the seller’s agent is now also my buyer’s agent. So I am hesitant to talk through this with him.
This all happened in Utah.
Can you, the stranger on the internet, point me in the right direction?
TL;DL I’m under contract for a home I don’t want and think I can get out because of close proximity of sex offenders. Can I?
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