can seller sue me when Im backing out with inspection waived?

Hi

I’m buying SFH. purchasing price 470k, and I put deposit 5k. it’s been 3 weeks since offer is accepted. we still have 1 month left till closing date.

all contingencies are kept except for inspection. inspection contingency is waived. the house is built in 1951. seller disclosure says its hvac fully functioning but 2nd floor was hot when I got house tour before offer. he said the house has insulation in exterial wall but I doubt since it is built in 1951.

I asked the seller to show me the house for informational purpose only, and he denied for last 3 weeks. I want to back out because he doesn’t allow me to see the house and house is old. I only lose EMD, that’s fine. I’m not trying to get my EMD back.

similar houses near by are coming out 520~480k now. I believe the seller still can sell the house for the listing price with no problem if he relists it.

ā€‹

today my agent told me that they will sue me if I back out. As far as I search all info, they can sue me only if they relist the house and they can’t sell the house for the listing price or have to sell at lower price, then they should prove the loss by hiring any lawyer and takes long time.

My agent told me that seller now wants me to inspect house but now I feel like what’s the point ? it is very obvious some of seller disclosures are incorrect but I don’t think that helps me in this situation. why should I inspect under inspection waived and there is nothing to save me but waste everyone’s time ?

can the seller sue me for now ?

submitted by /u/ddarky85
[link] [comments]

Hi I’m buying SFH. purchasing price 470k, and I put deposit 5k. it’s been 3 weeks since offer is accepted. we still have 1 month left till closing date. all contingencies are kept except for inspection. inspection contingency is waived. the house is built in 1951. seller disclosure says its hvac fully functioning but 2nd floor was hot when I got house tour before offer. he said the house has insulation in exterial wall but I doubt since it is built in 1951. I asked the seller to show me the house for informational purpose only, and he denied for last 3 weeks. I want to back out because he doesn’t allow me to see the house and house is old. I only lose EMD, that’s fine. I’m not trying to get my EMD back. similar houses near by are coming out 520~480k now. I believe the seller still can sell the house for the listing price with no problem if he relists it. ā€‹ today my agent told me that they will sue me if I back out. As far as I search all info, they can sue me only if they relist the house and they can’t sell the house for the listing price or have to sell at lower price, then they should prove the loss by hiring any lawyer and takes long time. My agent told me that seller now wants me to inspect house but now I feel like what’s the point ? it is very obvious some of seller disclosures are incorrect but I don’t think that helps me in this situation. why should I inspect under inspection waived and there is nothing to save me but waste everyone’s time ? can the seller sue me for now ? submitted by /u/ddarky85 [link] [comments]

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