2007-03-21 08:26:02 · 5 answers · asked by Minal P 1 in Business & Finance ➔ Renting & Real Estate
It depends whether you have signed a buy-sell with a purchaser and they have put down earnest money. If it hasn't been signed and the money is not there, you can normally pull out of the deal. If it has been signed, then the buy-sell should spell out what happens if either party cancels.
2007-03-21 08:34:50 · answer #1 · answered by Anonymous · 0⤊ 0⤋
What stage are you at in the process? My husband and I backed out of our house sale about two years ago after - unfortunately - our buyer had already gone through the home inspection process. We reimbursed her for that cost, but that was it.
2007-03-21 08:34:58 · answer #2 · answered by Kathleen K 2 · 0⤊ 0⤋
If you have a buy sell agreement you may lose some money. If you do not have an agreement to sell then you'll lose nothing.
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2007-03-21 09:29:28 · answer #3 · answered by annalisa.fontana 2 · 0⤊ 1⤋
They could sue you for damages, or for specific performance, and force you to go through with the sale.
2007-03-21 11:48:17 · answer #4 · answered by frankie b 5 · 0⤊ 0⤋
You'll probably lose thousands, if you can even back out.
2007-03-21 08:29:24 · answer #5 · answered by Anonymous · 0⤊ 0⤋