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Odds Of Getting Sued For Terminating House Purchase Contract?

Location: Texas

Everything was going smoothly with a new and first time home purchase. Got out of option period and lender said to look for insurance. Reach out to insurance and few tell me there is a 60k fire claim associated with the address. It was never disclosed.

Talk to my realtor and he talks to sellers who claim to have no idea about this. They said this was something that the tenants brought over on their renters insurance and got tied to their property.

Whole thing feels shady. I had 3 insurance brokers show me the CLUE report, but owners said their insurance agent can’t locate it.

Lender won’t write a letter since there is 1 single insurance company that will insure the house and every major one won’t.

I don’t want to buy a house that I can’t insure how I want to insure it.

Without the letter from lender, we are stuck.

What are the odds the owners come after us if we terminate the contract and don’t release the earnest money?

submitted by /u/mksrb1420
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Odds Of Getting Sued For Terminating House Purchase Contract?

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