what is a good reason for buyers cancelling a contract 2 days after ratified and they havent sent the EMD?

Asked by Elizabeth, San Lorenzo, CA Thu Jan 31, 2013

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Cindy Davis, Agent, San Diego, CA
Thu Jan 31, 2013
If the buyers used the standard CAR form that has a 17 day contingency period...the buyer doesn't need a 'good reason' to cancel It is part of their rights to cancel for any reason within the contingency period.

Check your contract to see how long that contingency window is...but I am guessing that the buyers are well within their rights to cancel.
0 votes
stephen webb…, Agent, Kirkland, WA
Thu Jan 31, 2013
Good Morning
The requirments for canceling are different in most states. The purchase and sale agreement you used to make your offer will outline the issue and the inspection addendum will also address the issue. There are helpful articles on Your-Road-Home.com. You will discover that choosing an experienced ethical real estate agent is one of the most important steps in the buying process. The article Consutation, Interviewing Real Estate Agents will serve you well. And visit the Home Inspection segment. Good Luck, Stephen Webber
0 votes
Lance King, Agent, San Francisco, CA
Thu Jan 31, 2013
there are tons of reasons why buyers cancel. Buyers' remorse often kicks in 2-3 days after, or perhaps they saw another place they liked.
0 votes
Tim Moore, Agent, Kitty Hawk, NC
Thu Jan 31, 2013
Cold Feet is a biggie sometimes. There can be many reasons from they found another house they like better or they road the neighborhood and didn't like it or they decided it's not the time, etc, etc. I have head all sorts of reasons.
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