Looking to back out of buying a house.. [Archive] - Real Estate Insider Forum
 
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Timoti
12-25-2006, 06:19 PM
I was going to purchase a house with my husband. We gave $135,000 for upgrades in the new home. Because they are my friends, we do not have a contract signed with them at the moment. My husband and I are separated and I do not want to go ahead with the purchase.The $135,000 was taken from a line of credit (in both mine and my husband's names) but the line is against a home I currently own alone. Can I legally get the money back that we have given them?

David
12-26-2006, 10:30 AM
It all depends on the laws of your state. Of course on the one hand you have no written contract, but a verbal is still legal (although many times unenforceable). The problem with a verbal is proving it, that $135,000 is proof there was some kind of verbal contract made. You really need a lawyer for this one.