As of recently, more and more buyers have been asking questions on Trulia Voices that pertain to how to get out of a contract for reasons that should have been addressed well before they wrote the offer. In some cases, the issues should have been addressed before even starting to look at homes for sale.

Here's a recent question posted by a buyer on Trulia Voices:

"Can I back down on a house contract after an inspection on the house and finding out the crime rate?"

Doing research on the crime rate is something a buyer should do well before writing an offer on a property. In fact, it should be done before the buyer starts looking around at properties in the first place.

I can't say whether this buyer can get out of their contract for other reasons/contingencies because I'm not privy to the details of this transaction, but I can say they can't get out of a contract solely due to the crime rate.

By not doing their homework beforehand, this buyer could potentially be legally bound to buy the property and lose their earnest money deposit and be sued by the seller(s) if they don't move forward with the purchase.

Buyers - do your homework (and make sure you have a good buyer's agent on your side if you're using one) so you don't get caught in a situation like this. If you don't know what to do your homework on - ask. If you don't know where to find the information you're looking for - ask. It never hurts to ask, but it hurts bad to lose thousands of dollars and/or get sued.

For additional tips and resources when selling or buying real estate in Loudoun County, check out Loudoun Stats.