Buyer's right to back out after inspection

[odeverett]

What is the name of your state? Connecticut

Last week, we put an offer in on a house and it got accepted. The house was in "as-is" condition and the seller did disclose the fact that the house needed gutters. The cosmetic repairs were also obvious but my husband and I agreed that we could do the cosmetic work and gutters and were still getting a good deal on the house so we were excited. THEN, we did the inspection (note we checked off everyone of those little boxes, stating that we had the right to do the inspection, mold inspection, termite inspection, etc.). WELL, the inspection revealed a whole lot more then just the gutters. Basically the house needed new electrical, all new plumbing, a new roof, had mold upstairs....pretty much a buyer's nightmare. Needless to say, we backed out. Our agent sent over some letter stating that due to the findings of the inspection, we no longer want the house. Well, the seller's agent freaked out and pulled the "as-is" condition card. Like we had any idea the house needed $30,000 worth of work at least! Now I'm panicking that my check for the initial deposit, which is already in the escrow account, isn't going to be returned. Do I have any legal rights here? What do I do if they don't give it back? I'm sooooo mad!!!

 

[Bigfoot]

Did your offer state that it was contingent on a repair amount that you would be unwilling to exceed? Otherwise, all you indicated was that you had the right to have inspections.