I Closed On The Sale Of My Commerical Building Can I Back Out If So How Long Do I Have.

Asked 12 months ago - Fraser, MI

How long Do I Have To Back oyt Of The Sale Of A Commerical Building

Attorney answers (4)

  1. David B. Forest

    Contributor Level 10

    4

    Lawyers agree

    Answered . There is no time period that allows you to back out of a closed real estate sale. The 'three day period' that you may have heard about applies in only very limited circumstances, and this is not one of them. However, if there were irregularities in the transaction (fraud, etc.), there is always a chance that there might be grounds for recision (to unwind the deal). However, these are also quite rare.
    You should have a licensed attorney who specializes in real estate review your situation.

  2. James P. Frederick

    Contributor Level 20

    4

    Lawyers agree

    Answered . The answer depends on your purchase agreement. There is no inherent right to cancel, at all.

    James Frederick

    ***Please be sure to mark if you find the answer "helpful" or a "best" answer. Thank you! I hope this helps. ******... more
  3. John F. Brennan

    Contributor Level 19

    3

    Lawyers agree

    Answered . You can see an attorney with the documents to see if there is an escape clause or a defect in the transaction, but generally, once the deal is closed, it is closed. Seek counsel if you think you have an argument.

    To the PROSPECTIVE client, please call myself or another attorney for your choice with more detaiils and an... more
  4. Peter J Weinman

    Pro

    Contributor Level 17

    3

    Lawyers agree

    Answered . Absent some provable fraud, duress, or other extenuating circumstances, once you have closed, you cannot "back out."

    What happened?

    NOTE: (1) I may be guessing and/or not even licensed in your state; (2) We have not established an attorney-client... more

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