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Can you back out of a sales agreement during the contingency period for any reason?

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Under California Real estate law. Can you back out of a sales agreement for a home purchase for any reason, such as getting cold feet or you just decide now is not the right time to buy even if you've alreay been approved for a loan?

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June 18 - Fresno

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Jordan Wyndle, "wyndle"
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Jordan Wyndle, "wyndle"

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Well, "for any reason," no. If the reason is simply because you've changed your mind or now have cold feet, you could be in jeopardy of losing your deposit. However, if you are within your contingency periods, or if you made an offer to purchase contingent upon additional approvals, such as interior inspection or spousal approval or etcetera, then you may cancel without forfeiting your deposit per the specified contingency. For the best answer, you should have your agent explain your offer and the contingencies specified in your offer.

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June 19

Frank Becerra, "Las Vegas agent"
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Frank Becerra, "Las Vegas agent"

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You, and your agent set the contingencies, read them and figure out if you are in time to use them. Once an offer is accepted, all contingencies begin, some are specific time frames, and other are conditions that must be met. The answer is in the offer you presented. Talk to your agent about this as well.

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Endre Barath, "Endre"
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Endre Barath, "Endre"

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If you have not removed your Loan, Appraisal, and Investigation conditition during the prescribed timeline you can cancel. I find that not a prudent thing to do, but you can, inlight of the fact that it is such a great buyer's market and I do not think you will have such an opportunity to come around real soon and you will look back that you should have bought

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June 19

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Can you back out of a sales agreement during the contingency period for any reason?

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Question Can you back out of a sales agreement during the contingency period for any reason?

Question Selling agent to write a backup offer for me on a short sale. What provisions should I watch out for

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