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Tina
Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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Can a buyer or seller opt out of a home purchase at closing?

Customer Question

Can a buyer or seller opt out of a home purchase at closing?
Submitted: 5 months ago.
Category: Real Estate Law
Expert:  KimberlyLaw replied 5 months ago.

Hello, I am happy to assist you today.

Yes, both the buyer and seller could opt out of the sale before the closing is concluded. There might be some penalty depending on the terms of the sales agreement, and it is usually the amount of the deposit that would be given up by the buyer if the buyer walks away. They also wouldn't get back any fees paid for inspections, attorneys, etc.

Let me know if that answers your question.

Kim

Expert:  KimberlyLaw replied 5 months ago.

Hi there, I am the attorney assisting you with your legal question.

I asked you some questions above, and I see that you haven't answered yet. I am available to continue our discussion.

Thank you!

Kim

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