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  #1  
Old 03-30-2006, 09:07 PM
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Join Date: Mar 2005
Posts: 6

set to close tomorrow

What is the name of your state? ohio

I am set to close on our house tomorrow, I know the buyer can back out anytime up to the papers being signed. Can the buyer back out after the closing (72 hour clause with loan)?
  #2  
Old 03-31-2006, 04:20 AM
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Join Date: Aug 2005
Posts: 1,964
Quote:
Originally Posted by pednurse
I know the buyer can back out anytime up to the papers being signed.
You have been VERY misinformed. If proper contracts have been signed not only can you not back out, without contract contingencies, but a seller can sue you in court and WIN.

The 3 day refers to a refi loan. No such exists on on regular sell/buy of home.
  #3  
Old 04-05-2006, 09:30 AM
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Join Date: May 2000
Location: Catatonic State
Posts: 76,413
Quote:
Originally Posted by pojo2
You have been VERY misinformed. If proper contracts have been signed not only can you not back out, without contract contingencies, but a seller can sue you in court and WIN.

The 3 day refers to a refi loan. No such exists on on regular sell/buy of home.

**A: in a case where the lender refuses to fund ( at the last minute) and where the contract is contingent on financing, the Buyer may be forced to back out.
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