Termination of real estate purchase contract
May 8, 2011 | 40,00 EUR | answered by Tobias Rösemeier
I bought an apartment and after the purchase, I discovered that there is a severe mold infestation. I want to declare my withdrawal. Since the payment has already been made, my question now is: The payment was made to various banks to discharge the mortgage and only about 10% directly to the seller. Is there a possibility to get the money back from the banks after withdrawal? There will be nothing to recover from the seller. If the purchase is cancelled, in my opinion, the discharge of the mortgage is also no longer valid. How long does something like this take? What are the chances of success (withdrawal reason is 100% certain, deceit is 100% provable)?
Thank you for a quick response.
Dear inquirer,
I will answer your question taking into consideration the circumstances you described for the purpose of providing initial legal orientation as follows:
A valid withdrawal from the purchase contract establishes a so-called reverse performance obligation relationship.
By withdrawing, the contractual obligations are converted into contractual recovery claims (§ 346 para. 1 BGB).
Each party must return the services provided.
In this case, this means that the property must be transferred back against repayment of the purchase price. In addition, there are claims for damages.
However, a reversal of the mortgage repayments is not possible. The purchase price has been transferred to the banks at the seller's instruction. The banks are not parties to the contract, so they are not obligated to return the money. Instead, the mortgages have been deleted. This was and is unfortunately done lawfully and cannot be reversed considering the reversal of the purchase contract.
Only the seller can demand repayment of the purchase price and, furthermore, certainly claim damages.
As a result, it may be advisable to consider alternatives, such as reducing the purchase price and consequently reclaiming a reasonable reduction amount that the seller hopefully is able to provide or asserting a claim for damages for the costs incurred to eliminate the construction-related causes of mold formation.
I hope I could give you a reasonable overview of the legal situation.
I would like to point out as a precaution that online consultation cannot replace legal advice on site.
Sincerely,
Tobias Rösemeier
-Attorney-at-law-
