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I'm buying house and under contract, but I found there's no parking with the house, can I cancel it?

this house are located too near to the stop sign, so there's neither off street parking nor on street parking, can I cancel the contractwith this reason and get deposit back?
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July 18 2012 - US
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Profile picture for the_country_hick
Legally you may have some recourse. Look at the link below for more information.

http://firsttuesdayjournal.com/holmes-v-summer-dilatory-disclosures-and-the-damage-done/

Not all realtors agree with this that is why the lawsuit below was initiated and won.
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July 18 2012

It depends! I'm located in N.C. Our Offer to Purchase and Contract contains a Due Diligence clause that gives Buyers a set period of time to investigate the condition of the property. During this period the buyer determines whether or not to proceed with the purchase. The buyer may walk away from the property for any or no specific reason and receive back all earnest money submitted with the offer. If you used an agent, please check with that person or consult a real estate attorney to determine your best course of action. I hope this helps!

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July 18 2012
This is a hard question to answer without reviewing your purchase agreement, but most state contracts have some kind of provision, often known as an "investigation" or "inspection" period, during which time a buyer has the opportunity to investigate any/all aspects of the subject property.  In my state, this clause is written very broadly and allows a buyer a risk-free exit from a contract anytime during the agreed upon period.  If your contract is unclear, consult an attorney. 
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July 18 2012
You may want to consult an attorney who handles residential real estate matters.  I don't understand why you can't park in the driveway.
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July 18 2012
Only if you were mislead into believing there was parking (either onsite or on street) when in fact it wasn't true.

Talk to your agent regarding your next move.
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July 18 2012
 
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