Hi Cnh,
In California, there is no 3 day right of resision on real property; ( a house). There is however a 5 day period in which you can back out for any reason you deem valid on a re-sale home. That is if it is not a bank owned home. There is a document that the law requires every homeowner to deliver to the prospective buyer. It is called a "Transfer Disclosure Statement" You have 5 days after the seller gives this to you to back out of the contract. If the seller does not give it to you for say a week; then you have 5 days after that to cancel. Banks are exempt from this document; so no 5 day period for you then. Your Realtor will be able to let you know what other reasons are valid for you backing out wihtout loosing your deposit! Just ask us!
Hope that helps.
Connie Bramble
714-337-8718

Hi Cnh,
It's true that when you sign a real estate contract, that you are locked in. However, most contracts have contigencies for a mortgage, inspections etc. If the selling agent won't easily release you based on the fact that you don't want the house now, you should have a contingency that can be "triggered" that will allow you to break the contract. If you truly don't want the house, I'm sure you will be able to find a way to get out of the contract. Good luck.

Cnh it is true that there is no 3 day "I don't feel like buying it now" clause. However check with your Realtor® and let them know how you feel. There very well may be many escape clauses that you can use if the home you wanted to buy is no longer the home you want to buy.

Terms of a sale always depend on the contract . What does the contract state ?