Is It still LATE to quit the whole BUYIng Thing

[kingdang]

What is the name of your state? Washington State

I been pre=approve for a loan. We did come upon a house we liked. The offer was being fax to the seller on July 31 and the offer was being accepted. The next step we did was being ready to has the inspector inspect the house while the loan are being process. Before the inspection was done we came to a problem that we didn't have enough money to put in the bank to cover the earnest money we wrote to our agent showing we want to buy the house.

Now we want to terminate the whole thing off. Is there any chance the seller going to be HARD on us and not let us back out?

Reason is the earnest check now is a bounced check.

PLEASE HELP ASAP!!!
THANKS

[seniorjudge]

If y'all had a signed contract agreeing that you would buy and the other folks would sell this land, then there may be a penalty against you for breaking the contract.

Ask the real estate agent you hired to help you your questions.

[HomeGuru]

Originally Posted by kingdang

What is the name of your state? Washington State

I been pre=approve for a loan. We did come upon a house we liked. The offer was being fax to the seller on July 31 and the offer was being accepted. The next step we did was being ready to has the inspector inspect the house while the loan are being process. Before the inspection was done we came to a problem that we didn't have enough money to put in the bank to cover the earnest money we wrote to our agent showing we want to buy the house.

Now we want to terminate the whole thing off. Is there any chance the seller going to be HARD on us and not let us back out?

Reason is the earnest check now is a bounced check.

PLEASE HELP ASAP!!!
THANKS

**A: we have no idea since we don't know the Seller.