Under Contract On A Home. Lawyer Mistakenly Entered That We Limited Inspection.(location: Nj)
I exited attorney review some time ago and explicitly told my lawyer i will not be omitting anything from the inspection. A few days later after we exit attorney review I realize that he wrote we would be limiting our claims in the inspection to the oil tank sweep only. He owned up to his mistake. The problem is now we want to back out of the sale because too many hidden issues were found and realized the home is not for me. Im being told that if i withdraw there will be penalties assocated like being flagged for future home offers , among other penalties. He is offering to put 5k down in credit in addition to the the seller's offer of 10k credit. The problem is that isnt enough for me to warrant purchasing this home. What type of recourse are we looking at if i back out? He admitted fault and he will have to go through his legal insurance. So in the event the sellers sue or seek damages for having to relist the house, i will have to then sue my lawyer and have him/his insurance pay for this case. What kind of options do i have? (Location: NJ)
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