You are entitled to purchase the property described in your contract. If the seller is changing that, you have the right to refuse to go forward with the purchase. If the contract calls upon the seller to perform repairs that he is trying to do himself and is doing poor work, again, you have the right to refuse to accept it. If you have a real estate agent, tell him/her to inform the seller that you will refuse to consummate the purchase unless .... If you do not have a real estate agent, you should tell the seller (in writing) the same.
If you do call off the closing because of the changes -- in quality of the property and in terms of sale price -- you may run into problems getting your earnest money back. Although, you would have a right to refuse to complete the purchase, the seller may wrongfully try to keep your earnest money. Should that happen, you should consult a good real estate lawyer for advice.
Answered on Apr 08th, 2012 at 9:12 AM