cancelling purchase agreement after contingency period

[caljenn]

Jurisdiction

California

I am a buyer with a purchase contract for a single family house. No contingency. With loan approved and a week from closing, I discovered an office and a garage were converted without permit. I would like to know what my options are at this time.

There are two forms the seller filled out regarding disclosures. One is called "PRDS Real Estate Transfer Disclosures". On this form, the seller answered "No" to all disclosure questions including "Are you aware of Room Additions, Structure modification, or other alternations or repairs made without necessary permit".

The 2nd from is called "PRDS Supplemental Seller's Checklist". On this form, the seller hand wrote "remodeled 8/2017" and checked No to the question "with permit?"

After much efforts from the sellers and agents trying to get me go through with the purchase (they hired an attorney threatening the loss of deposit etc), the seller is now asking if I am willing to close if they cure the permit issues. I am hesitant to take this option primarily because I don't want to wait around for the permits issue to be resolved. I would much rather moving on and buy a different property.

My questions are:

1. Am I obligated to grant the sellers time to cure the issues?
2. If I am not willing to take the option, what should be my course of action in order to the deposit back?
3. Do I have rights to ask for sellers to pay for my costs and damages?

Thank you very much in advance for any help you may provide.

 

[adjusterjack]

Question 1 - Can't answer without reading your contract in its entirety.

If you like, you can post a copy after redacting any identifying info, and we'll see if we can make any helpful comments.

Question 2 - If you have that option you ask for it back in writing. Understand you might have to sue for it if the seller is recalcitrant.

Question 3 - You certainly have the right to ASK. There is no guarantee that you'll get.

 

[zddoodah]

Am I obligated to grant the sellers time to cure the issues?

Probably not, but no one here has read your contract.

If I am not willing to take the option, what should be my course of action in order to the deposit back?

This question calls for legal advice. Review the disclaimer at the bottom of every page at this site and consult with a local real estate attorney.

Do I have rights to ask for sellers to pay for my costs and damages?

You have the "right[] to ask for" anything you like. It's not clear what "costs and damages" you're talking about, however.