Sentences with phrase «to back out of the contract»

When you include these items in a purchase contract, you are essentially giving yourself a way to back out of the contract if a certain event or circumstance occurs.

You can not simply back out of the contract without the consent of your licensee.

You can not simply back out of the contract without the consent of your licensee and their broker.

A borrower might have to back out of a contract because the appraisal comes in too low and the bank won't make the loan.

This deal came to us because a large private equity shop backed out of the contract so we stepped in.

There also may be costly legal implications stemming from backing out of a contract.

When you include these items in a purchase contract, you are essentially giving yourself a way to back out of the contract if a certain event or circumstance occurs.

Customers can back out of a contract without obligation, raising the question, in some minds, of exactly how many of those contracts are real.

DELTONA — The city will hire its own animal control staff and take over that service from the local SPCA if that group backs out of its contract with Deltona as expected.

Contingencies essentially give a buyer the right to back out of the contract in certain cases, such as if they have problems obtaining financing, if problems are found during a home inspection or if the house doesn't appraise for the contract amount.

By doing so, the buyer would be guaranteeing that they are eligible and able to buy the home, and that they wouldn't back out of the contract due to any financing - related issue.

And in markets where multiple offers are the norm, it's not uncommon to waive contingencies, which give buyers the right to back out of contracts under certain circumstances.

In fact, when AAHS backed out of its contract with the county a year later, it was due to «philosophical differences» concerning feral cats, according to the Athens Banner - Herald.

The standard contract used by real estate agents may give you the right to back out of a contract if a home inspection uncovers more problems than you are willing to deal with.

MIAMI, Dec. 22, 2008 - Property values reached an all time low this year compelling many condo speculators to back out of contracts in order to minimize their losses.

After she analyzed data provided by UKIP, she briefed senior Leave.EU officials, but said the relationship suddenly ended after the campaign group backed out of a contract.

Earnest money gives sellers monetary assurance that a buyer won't back out of the contract without valid cause.

It may be difficult to make two mortgage payments, so as long as the closing date is set and the buyer of your old home can't back out of the contract, a personal line of credit can give you some financial flexibility until you get the proceeds from the sale of your old home.

Contingencies give you a chance to back out of the contract with a full return of your earnest money in case insurmountable problems arise.

(Deciding a contract is unfair rarely constitutes a legal reason to back out of that contract; Petty claimed that ABC's sale of Shelter Record's to MCA served as justification to declare an unfavorable contract he claimed he signed under duress to be invalid.)

A lawsuit later revealed that Yahoo had backed out of a contract to offer a similar contest.

Yahoo owes a prize promoter $ 5.5 million for backing out of a contract to pay $ 1 billion for predicting every winner in the 2014 NCAA men's basketball tournament, and entering a similar contract with Quicken Loans and Warren Buffett's Berkshire Hathaway, a court decided on Monday.

He's one of the few people that can back out of a contract, walk away from his team, and leave us wanting more... and I'm just not mad.

If the movie wasn't diverse, it would give the actor a legal reason to back out of the contract — meaning the rider could have a serious effect on all the hiring practices on a film.

Whether he can back out of the contract to rotate your tyres depends on whether there are any terms and conditions that you agreed to beforehand.

For example, if your old home is under contract, but the potential buyer still has to do a home inspection or has access to other clauses that could let them back out of the contract, relying on the money from the sale of the home to pay off a personal line of credit is risky.

The home inspection also gives you a way to back out of the contract, if the inspector finds something you are unwilling to accept.

If you pay a lot more than the standard amount, you risk losing more money if you back out of the contract.

If you back out of the contract for no good reason, you could forfeit your earnest money.

The buyer then has 17 days to back out of the contract without penalty and recoup their «earnest money» escrow deposit.

We've stopped construction by getting the incinerator customers to back out of their contracts, and are continuing to ask that the company pledge to use the site for sustainable alternatives.

If not, you'll have to decide to push, move forward or back out of the contract.

Having said that, ending CSR payments is grounds for an insurance company to back out of its contract to sell health plans on the exchanges for 2018, so we could see more insurers back out of the market.

If you back out of the contract during the inspection period, you should be able to get your earnest money back.

When problems arise during home inspections, it doesn't always mean you have to back out of your contract.

These cracks can be fixed at a relatively low cost, and shouldn't be a reason for you to back out of a contract.

I almost bought a short term rental but I decided to back out of the contract.

In particular, you should be clear on the terms of any contingency clauses that will allow buyers to back out of the contract.

But pay close attention to any clauses, contingencies, and other special considerations that will allow you or the seller to back out of the contract.

For instance, a contingency clause in a contract can state that if the Buyer doesn't approve the inspection report for the property, the buyer can back out of the contract.

They may ask you to back out of contracts, gloss over disclosures, and renege on promises to buyers.

The seller is going to have to have a very good reason to want to back out of the contract.

In particular, you should be clear on the terms of any contingency clauses that will allow you to back out of the contract.

However, if the inspection provides you with some results that you are less than thrilled with, you have the option to back out of the contract and take the Earnest Money Deposit back.

If the Seller can not present the documents it would be an opportunity for the Buyer to back out of the contract, if they wanted.

If the Buyer does not want to back out of the contract the Buyer might want to schedule to have professionals inspect the work to confirm that it is done to city codes.

As a buyer, you must include a home inspection clause in your purchase agreement, which will let you back out of the contract if the inspector discovers unexpected problems with the house.

Contract contingencies give the buyer and seller the right to back out of the contract if these conditions (contingencies) are not met.