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When can I back out of my purchase and sale agreement? We signed a purchase and sale agreement 10 days ago. The seller had 10 days to take care of some paperwork and we had 10 days for our inspection as soon as the water was turned back on. The seller has been unable to get the water working (private well) in the last 10 days. Yesterday, I spoke with the company that installed the pump into the well (2007) that had been drilled several years before. They had come out on several calls for problems with water production since installation. They think that the well is bad and wouldn"t recommend buying the property unless we can afford a new well. We can't even get financing without water. We are wondering how much time we have to give them to get the water going before we can just back out of the purchase? We don't want to waste time waiting for them to put a band aid on a bad well. Any advice? Thanks!
When can I back out of my purchase and sale agreement?
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