what are the consequences if one decides to back out of a contract on a new house.?

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what are the consequences if one decides to back out of a contract on a new house.?

2006-08-03 15:33:21 · 3 answers · asked by Mark P 2 in Home & Garden ➔ Other - Home & Garden

3 answers

You could lose any deposit that you put on the house.

2006-08-03 15:37:52 · answer #1 · answered by Sherry H 4 · 0⤊ 0⤋

In California there is a grace period in which one can back out of a contract without penalty. It is 24 or 48 hours. It may be federal. You should check for your locale.

2006-08-03 15:44:08 · answer #2 · answered by murphy 5 · 0⤊ 0⤋

You could loose your entire deposit or the owners could sue you in court to enforce the contract.

2006-08-03 15:40:07 · answer #3 · answered by MrsRailRoadRicky02 1 · 0⤊ 0⤋