Wesley_IHB
New member
I have signed a purchase agreement, opened escrow & put down deposit as well as done home inspection. How do I get out of the deal as this one requires updates & there's a new property that I like much better?
Getting out of a signed Purchase Agreement.
- Thread starter Wesley_IHB
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asianinvasian_IHB
New member
Shouldn't you ask your realtor?
Tech Dude_IHB
New member
If you have not removed contingencies, then you can cancel without losing your down payment.
If you removed all contingencies, then you will lose the down payment but can walk away from the purchase.
As noted above talk to your agent (I am not a realator, or lawyer, but a recent seller and buyer).
If you removed all contingencies, then you will lose the down payment but can walk away from the purchase.
As noted above talk to your agent (I am not a realator, or lawyer, but a recent seller and buyer).
usctrojanman29_IHB
New member
[quote author="Wesley" date=1258337585]I have signed a purchase agreement, opened escrow & put down deposit as well as done home inspection. How do I get out of the deal as this one requires updates & there's a new property that I like much better?</blockquote>
Wesley, as long as you are within your 17-day contingency period you can cancel escrow for any reason (even if the wind was blowing the wrong way) and get all of your earnest deposit back. There is a form that your agent will need to complete in order to cancel escrow. Feel free to PM me if you have any more specific questions.
Wesley, as long as you are within your 17-day contingency period you can cancel escrow for any reason (even if the wind was blowing the wrong way) and get all of your earnest deposit back. There is a form that your agent will need to complete in order to cancel escrow. Feel free to PM me if you have any more specific questions.