Profile picture for taipeijo

if you pay escrow money already but if you find another better house, can you still back out of the

  • August 14 2012 - Doylestown Township
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Answers (6)

Profile picture for taipeijo
thank you  all the response. I think we will keep the one we pick because there are some negative  on the second house we found such as too many trees in front of house , and no hard wood floor in the living room.
  • August 14 2012
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You have to back out for one of the approved reasons, typically financing or home inspection, or you might end up loosing your earnest money.
  • August 14 2012
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.  It really isn't fair to the seller to put an offer in on their home, and continue to look.  Generally I find buyers know when they've found the "right" home.  Once they put the offer in, they really aren't interested in continuing to look. It's important to keep looking until you are sure you've found a home you really want.

  • August 14 2012
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Profile picture for Ofe Polack
Since we do not know the details, it is difficult to say.  You may be able to walk out but forfeit your deposit. Discuss this issue with your buyer agent, who will be in a better position to offer you advice, if not, you may want to seek legal counsel.
  • August 14 2012
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The OP is from Pennsylvania. And the HOA right of rescission varies from state to state, So i would question whether the VA law would be applicable to PA. Plus the OP makes no mention of it being a HOA home.

If you have retained the services of a real estate agent, talk to them regarding your desire to cancel the contract. Everything is negotiable but sometimes the advantage belongs to the sellers and you may have no legal standing to exit the contract without penalties. Those penalties can range from loss of earnest money to a breach of contract lawsuit.


  • August 14 2012
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There are numerous ways to back out of sale contract. The first on that does not cost you anything is HOA documents. You just need to say "per HOA docs I withdraw my offer to purchase the property." You get 3 days to do that. Then you the the building inspection. There are some other ways.

Where are you at in the ratification process?
  • August 14 2012
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