On 7/15/2017 4:08 PM, Ed Pawlowski wrote:
> On 7/15/2017 4:00 PM, Bruce wrote:
>> On Sat, 15 Jul 2017 12:21:27 -0400, jmcquown >
>> wrote:
>>
>>> On 7/15/2017 11:54 AM, wrote:
>>
>>>> How many houses have you bought? Once you have signed an offer to buy
>>>> there are only very specific things which allow you to back out
>>>> without penalty.
>>>
>>> Maybe in Canada. In the US, until the actual "closing", anyone can back
>>> out.
>>
>> Without penalty, really? What's the meaning of the sale contract they
>> signed then?
>>
>
> Reasons to back out without penalty are spelled out in the contract. If
> a buyer pulls out with no valid reason the usually lose the deposit.
I haven't heard any mention of John paying a deposit. Just a lot of hot
air about an agreed price and a not yet agreed upon (or delayed) closing
date.
Jill