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At, Home Buyer in Florida

on contract for a home could a person back off what is the reasons ,will buyer get their deposit back?

Asked by At, Florida Sat Mar 7, 2009

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3
Generally, there are good reasons to cancel a contract for financing issues, home inspection, insurance rates--whatever protections are built into your contract. Without seeing your contract it is hard for us to know what the circumstances are--If you are just getting cold feet, and have not acted in good faith, you most likely will not get your deposit back. If you have been under contract for awhile, the seller has lost valuable time and money expecting to sell you the property--therefore, if you just get "buyer's remorse", the seller may feel as though you have cost him money and may try to keep the deposit. If you are not working with a realtor, you should be--as the buyer our services cost you nothing. You might want to consult a real estate attorney to be sure what your legal standing is--we are not attorneys, and cannot offer legal advice.

Good Luck

Myke Triebold
http://www.MykeTriebold.com
0 votes Thank Flag Link Sat Mar 7, 2009
Yes you can back out and get your money
and for many reasons but you need to pay very close attention to the dates and how the contract is written.

It's yet another good reason to use a Realtor.
reasons:
Bugs (WDO)
Mold
inspection turns up something you don't like
survey
can not get the loan you wanted
on and on.

do you need to get out of a contract?

Why?

I maybe able to help if you do not have a Realtor you are now working with.

John

John@JohnABennett.net

352-978-4539
0 votes Thank Flag Link Sat Mar 7, 2009
You need to refer to what is written in your contract. Depending on what type of contigencies were written, that will determine if any of the deposit would be returned to you. Speak to your agent concerning this.

Good luck,

Kathy Phillips
Coldwell Banker Residential Real Estate
0 votes Thank Flag Link Sat Mar 7, 2009
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