Can Seller back out?

04-21-2005, 06:27 PM

Junior Member

Join Date: Apr 2005

Posts: 1

Can Seller back out?

New York

I just entered into a contract to sell my house. The contract is about
1 month old and the buyer did not get his mortgage commitment yet.
He is not selling a home to buy ours. We want to back out because
we cannot find anything affordable in the price range we have to be in.
What are the ramifications if we back out.

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