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We signed a mortgage agreement yesterday and today finally…

HI! We signed...

HI! We signed a mortgage agreement yesterday and today finally realized this house is too small. How does the right of Rescission work in Colorado? Is there a form? If so, where do I get it? tnx

Lawyer's Assistant: What steps have you taken so far? Have you prepared or filed any paperwork?

Nothing beyond the realtors forms that we signed

Lawyer's Assistant: Have you talked to a CO lawyer about this?

No

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Answered in 7 minutes by:
11/7/2017
Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 42,590
Experience: 17 years real estate, Realtor. Landlord 26 years
Verified

Hello and welcome! My name is ***** ***** I am a licensed attorney and will try my best to help with your situation. There may be a slight delay in my responses as I type out an answer or reply.

.

Are you talking about a house purchase or a refinance?

.

.

thanks

Barrister

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Customer reply replied 8 months ago
Hi Barrister - house purchase
Customer reply replied 8 months ago
I can't talk on the phone now - could we schedule something for tomorrow morning?

Ok, then unfortunately, there is no right of rescission in a house purchase unless the contract specifically says it.. The 3 day right of rescission only applies to refinances..

.

So you are kind of stuck here unless you wanted to back out and breach the contract, but you would likely lose any earnest money and run the risk of getting sued...

.

.

thanks

Barrister

Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 42,590
Experience: 17 years real estate, Realtor. Landlord 26 years
Verified
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