On Sat, 15 Jul 2017 16:48:08 -0400, jmcquown >
wrote:

>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.

Regardless "In the US, until the actual "closing", anyone can back
out" isn't true, not without a valid reason or penalty.