How NOT to Cancel a Contract With a New Home Builder
A recent conversation with another real estate agent prompted the topic of this particular post. He was working with someone who signed a contract with a new home builder and then experienced buyer's remorse. The buyer called the builder's representative and said they wanted to cancel the contract, then stopped payment on the check they had written to the builder without the agents knowledge.
Was this a legitimate way to cancel the contract? I'm not an attorney, so my response is based on my understanding of the standard new home builder contract. New home builders may have specific differences in the language of their contract. Most of the contracts I am familiar with contain similar language to that expressed here.
Here are a few terms from builders contracts:...
