Can we invalidate a concrete estate contract?

We put an give on a home surrounded by the begining of July. The house be scheduled at 249,500. We offerend 262,500 knowing that the house be totally underpriced and in that be 3 other contracts already on it. The couple that owns the housing is going through a divorce so trial issues come surrounded by to play and they own have court date because the husband very soon wishes to buy the house incentive he yhinks its underpriced. Blah blah blah. they hold on to going to court to prefer if they hold to put on the market it or not. Anyway its be over a month, the subsequent court date is on the 20th. We hold since found another house that I in fact approaching better. Can we go against our contract man that it is taking so long, we don't want to lose this exotic house if we hang about to long and the other one doesn't dance through.

Answers:
Most contracts are written beside an expiration date and likelihood are you are capably chronological that date. If so, you can saunter away beside a full discount of your biddable expectation deposit.
Check the wording of your grant especially scarcely. If surrounded by doubt, go and get an feelings from your Legal Advisor or you might be looking at 2 homes.
You don't HAVE a contract! A contract requires volunteer and espousal, you own offerred and you don't hold assumption.
Where are you located?

If you're in the UK you can backbone out at any time up to exchange of contracts.

If you're surrounded by the US and the seller(s) enjoy standard your give you are adjectives presently bound by the lingo of the agreement. They must complete the mart regardless of the B/S going on near their divorce and you must complete the purchase unless one of your contingency clauses (financing, inspection, etc.) kick surrounded by.
Talk to your Realtor and see or read your contract. I believe near is a clause contained by in that chitchat roughly such issue.


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