what happens if i back out of buying a house

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When Can You Back Out of Buying a House? | Home Guides | SF Gate – Buying a house sets in motion a string of activities that will, hopefully, conclude in your getting a set of keys and a big mortgage. But life happens, and if, during the process, you discover.

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I signed a purchase agreement to buy a house but haven't. – The question is, what can happen if you back out. 1. you can lose your deposit. 2. the seller can sue you to perform (purchase the house as you agreed to) 3. if the seller resells the house and it’s for less then you had agreed to, then he can sue you for damages (the amount that they lost). The reason(s) you want to back out really don’t matter.

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can I be sued for backing out of buying a house? | Yahoo Answers – Can I be sued for backing out of buying a house?. Basically, if you just back out with out good cause, you may be sued for damages. In CA, the seller must prove their damages, (loss of rent, depreciation, other offers turned down to accept yours, etc).. what could happen?

How Can a Seller Back Out of a real estate transaction. – Backing out of a real estate transaction after a home sales contract has been signed and is in escrow is very risky for the seller.. Out of the House .. How Can a Seller Back Out of a Real Estate Transaction?