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Godard Fan · 10-06-2008, 10:00 AM

I have recently entered into two purchase contracts for a new home and condo. The condo is already under construction but won't be finished until 2011. They haven't broken ground for the house yet as I'm still at the colour choosing stage. For both properties, I have already give a 15% deposit.

Given the economic uncertainty, I'm having second thoughts. Is there any way I can get out of these contracts and get my deposits back?

Thank you for your input.

10-06-2008, 10:00 AM	#1
Godard Fan Draft Pick Join Date: Sep 2008	Question for Troutman and other real estate experts I have recently entered into two purchase contracts for a new home and condo. The condo is already under construction but won't be finished until 2011. They haven't broken ground for the house yet as I'm still at the colour choosing stage. For both properties, I have already give a 15% deposit. Given the economic uncertainty, I'm having second thoughts. Is there any way I can get out of these contracts and get my deposits back? Thank you for your input.