If a buyer of a new subdivision lot wishes to cancel the contract, within how many days of the signing of the purchase contract must they do so? *

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jacquelene rivers, Currently studying the 120 hrs basic realtors cou (none)

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Bob Crane

Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI

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Depends on the contract and the state.

Jan 30, 2019 08:24 PM

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Evelyn M Epperson

Coldwell Banker Residential Brokerage - Johns Creek, GA

A Tradition Of [Excellence, Trust & Service]

You have a due diligence of 10 days but if you know you are canceling try to cancel right away.

Nov 10, 2015 03:24 AM

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Troy Erickson AZ Realtor (602) 295-6807

HomeSmart - Chandler, AZ

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Jacquelene - Like all of the other agents have suggested, that information will be written into the contract, and depending on the builder and the state, it can vary.

Nov 09, 2015 02:50 PM

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Tammy Lankford,

Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA

Broker GA Lake Sinclair/Eatonton/Milledgeville

in GA there is a due diligence period in the contract. It's a negotiated number of days.

Nov 09, 2015 02:42 PM

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Gary Coles (International Referrals)

Venture Realty International - Las Vegas, NV

Latin America Real Estate

It should be in the contract. However, to be completely safe, it would be a good idea to check with an attorney to make certain that there is no law in your area that might place some qualification on real estate sales.

Nov 09, 2015 11:35 AM

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William Feela

WHISPERING PINES REALTY - North Branch, MN

Realtor, Whispering Pines Realty 651-674-5999 No.

I have it set with my builder 15 days.

Nov 09, 2015 10:20 AM

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Women of Westchester Working Together

Women of Westchester Working Together - West Harrison, NY

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Read the contact.

Nov 09, 2015 08:34 AM

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Debbie Laity

Cedaredge Land Company - Cedaredge, CO

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Read your contract. It's all in there.

Nov 09, 2015 08:34 AM

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Patricia Kennedy

RLAH Real Estate - Washington, DC

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Whatever the contract says.

Nov 09, 2015 08:33 AM

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Kathleen Luiten

Resort and Second-Home Specialist - Princeville, HI

Kauai Luxury Ocean Home Sales

Check the contract. Some states require a minimum period for cancellation.

Nov 09, 2015 05:08 AM

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Jill Murty, Realtor - Orange County, CA

Movoto - Laguna Niguel, CA

The answer will be in the contracts and not all contracts are the same. Read before you sign.

Nov 09, 2015 05:07 AM

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Michael Setunsky

Woodbridge, VA

Your Commercial Real Estate Link to Northern VA

jacquelene rivers To my knowledge there is no right of recission when purchasing real estate unless it is specified in the contract. I don't believe TILA applies in this situation.

Nov 09, 2015 04:56 AM

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Cindy Davis

SD Home Source Realty - San Diego, CA

It depends on what's in their contract!

Nov 09, 2015 04:16 AM

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Debbie Reynolds, C21 Platinum Properties

Platinum Properties- (931)771-9070 - Clarksville, TN

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Read the contract and it will be there.

Nov 09, 2015 04:11 AM

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Richard Weeks

Dallas, TX

REALTOR®, Broker

That would depend on their rights to terminate as spelled out in the contract.

Nov 09, 2015 03:31 AM

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You have a due diligence of 10 days but if you know you are canceling try to cancel right away.
Jacquelene - Like all of the other agents have suggested, that information will be written into the contract, and depending on the builder and the state, it can vary.
in GA there is a due diligence period in the contract. It's a negotiated number of days.
It should be in the contract. However, to be completely safe, it would be a good idea to check with an attorney to make certain that there is no law in your area that might place some qualification on real estate sales.
Check the contract. Some states require a minimum period for cancellation.
The answer will be in the contracts and not all contracts are the same. Read before you sign.
jacquelene rivers To my knowledge there is no right of recission when purchasing real estate unless it is specified in the contract. I don't believe TILA applies in this situation.
That would depend on their rights to terminate as spelled out in the contract.