Without seeing the agreement of sale and the details therein, it really is hard to say. Generally there should be some type of "Seller Response Date" that requires the seller to accept the offer in writing by that date. If the seller has not indicated their acceptance of the offer in writing by that date then you would have no further obligation to stay in the transaction and incur no penalty. I don't know what state you are in, but in PA the deposit check is not deposited until there is acceptance by the seller in writing. In this instance the uncashed check would have been given back to you. Check with your agent, if you have one, in regard to the specific guidlines of your state. If you want to back out most certainly do it in writing and be sure to sign and and date it.
You can always reach me here or at my website at http://www.HomesInDelco.com
Hope this helps and feel free to email back!
Michael P. Gennett, REALTORÂ®, SRESÂ®
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