You do have options, but please remember, when you sign a Purchase Agreement and present it to the Seller, you should stop looking at homes.

A Purchase Agreement is a Contract and it should be taken very seriously. You should not enter a contract with the intent to break it. It sounds like you were not really serious about the first home. You should not sign a Purchase Agreement until you are sure you are serious.

Even if the laws are different in PA, part of our current problems stem from the fact that some Purchase Agreements are entered into without the intent to fulfill the contract.

Talk with your agent - PA real estate laws are different than MN laws and your agent can advise you accordingly. Bottom Line -- in MN, until an offer is signed by both parties and both parties have a copy of the signed purchase agreement, there is no binding purchase agreement so I would just give written notice that you are rescinding your purchase agreement (i.e., a fax) and keep a copy for your records (i.e., of the fax receipt).

You have the option to withdraw your offer prior to them accepting it. If they counter offer you back, you can choose to not respond as well. You have options! Are you working with a Realtor?

tonywilson@callcarpenter.com