Real Estate Transactions
Buyer’s Right to Cancel Purchase Contract Because of “Ghost Rumors”
Question: In a recent column you said that a buyer could cancel a purchase contract for a home within the 10-day inspection period because of “neighborhood rumors about ghosts haunting the home.” Even worse, you said that the buyer could then get his $20,000 earnest money back! We are planning on listing our Sun Lakes…
Read MoreSeller Wants Two-Week Extension to Close Escrow
Question: My wife and I are first time homebuyers in our late 20s. We signed a contract to purchase a home in Chandler. The close of escrow is scheduled in two weeks. Our apartment lease ends in two weeks. The seller’s real estate agent just told us that the seller will not be able to…
Read MoreDisclosure of Dog Park by Realtor After Close of Escrow
Question: Two years ago we purchased a home in a subdivision of single-family homes in Mesa. At the time that we purchased our home, the Arizona Department of Real Estate subdivision public report given to us by the homebuilder said that the vacant land across the street from our subdivision would be developed into a…
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