For donations Click Here

Backing out of a “no contingency” Real Estate contract

Question:

I recently entered into contract to buy an investment property. The contract had no contingencies.
Since going under contract, the property has gotten damaged due to a leak in the roof which caused flooding on the upper and lower floors.
The flooding is not a huge deal, but I would like to use that as an excuse to get out my contract.
Walking away from the contract will put me (and perhaps my agent) into a bad light.
Halachically, can I walk away from such a contract?
I’m concerned from the perspective of Chillul Hashem or from ne’emanus:
• Chilul Hashem – The seller and seller’s agent never met me, but they likely will assume I’m jewish because of my Jewish agent.
• Ne’emanus – I said I was going to buy with no contingency (big mistake). Now I’m backing out. I feel a bit yucky about that. Also, I am concerned about “mi shepara.”

Halachically, can i back out of such an contract?
I have already asked the sellers if they would let me exit the contract. And they have agreed to let me exit. Does this allow me to exit?
Thank you!

Answer:

Answer by Horav Y. Fleishman shlit”a

If the seller doesn’t mind then everything is alright

Best wishes

Leave a comment

Your email address will not be published. Required fields are marked *