Can a Buyer Cancel a Real Estate Purchase Agreement? Potential Consequences

Emily Farber
Emily Farber
Published on February 1, 2019
AbsolutVision / Pixabay

Man, oh, man. No one likes it when a deal falls apart, but sometimes they do. People change their minds. Circumstances change. If you’re a buyer in a real estate contract, and you want or need out, what are your options? Can a buyer cancel a purchase agreement?

A lot of it depends upon how far into the transaction the buyer is at the time. If the buyer has an applicable contingency still protecting him or her it could provide a potential exit allowing the buyer to cancel the purchase agreement, but if not, what are the potential consequences of trying to back out? It’s often not as simple as saying, “Sorry! I changed my mind.” Watch my latest video about this topic and find out more!

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