Legal Question in Real Estate Law in Illinois

if i back out of a home purchase after an accepted offer can i be sued


Asked on 10/28/16, 10:47 am

2 Answers from Attorneys

Thomas Moens Moens Law Offices, Chartered

Yes, that is a possibility. You should hire a real estate attorney to review your purchase agreement and advise you.

Read more
Answered on 10/28/16, 11:30 am
Henry Repay Law Offices of Henry Repay

If you are the purchaser, as it sounds, most likely you stand the risk of forfeiting your earnest money, but the risk of being sued is also there. Have your closing attorney review the contract and the circumstances. The more immediately you act, the more likelihood that something can be done for you (particularly if the contract was just signed within the last few days). If you are the seller, then there is even more of a likelihood that you would be sued. Again, contact your attorney.

Read more
Answered on 10/28/16, 1:58 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Illinois