- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
Answers (7)
- Debra (Debbie) Rose, "Livingston NJ"
- Contributions:2727
Marimm - it would help to know where you are , as the answer can vary state to state.
I might as well chime in - in NJ, we have a 3 day "attorney review period", follwing contract signing, in which either party can get out of the contract with no reason given.
I might as well chime in - in NJ, we have a 3 day "attorney review period", follwing contract signing, in which either party can get out of the contract with no reason given.
- Ritu Desai, "VARealtor"
- Contributions:697
In Virginia we don't have rescission period however we do have HOA resale disclosure package that the buyers can walk out if the home falls under a home owner association.
- paul weinzimmer, "FHAPAUL"
- Contributions:128
In Ohio there is no rescission period on purchases after you close, and a 3 day rescission period for refinances. You can waive the 3 day rescission period, but you better have a REAL good reason for asking for it. This might be true on a national level because the federal Truth in Lending Act gives consumers three days to cancel a home equity loan or a mortgage refinancing,but I would check with a local agent first.
- Jennifer Bernard, "jenniferwb25187290"
- Contributions:1
It varies from state to state, in Alaska, you can cancel the contract prior to seller acceptance. And on refi's and 2nd mortgages there is a 72 hour/3 day period to cancel.
- Bob Sendel, "reprobob1"
- Contributions:135
I'll second what they said...In NY, not on purchase mortgages but there is on refi's & 2nds.
- Kyle Gowdy, "Frisco Real Estate"
- Contributions:39
Depends on the state, some states have an option period and it can be any set amount of time and you cancel for anything you want. You can always cancel before the contract has been accepted and signed by the seller.
- wetdawgs
- Contributions:26768
It depends on the state.
Is there a 3 day cancellation period on a real estate as is contract?
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.