Backing Out Of Buying A Home (2025)

You will likely lose your deposit, which typically ranges from 1% to 10% of the home's sale price.

Are you currently in the , or have you already cleared all your hurdles and are approaching the closing date? backing out of buying a home

This allows you to back out if you cannot sell your current home within a specific timeframe. Potential Consequences You will likely lose your deposit, which typically

You will still be responsible for fees already paid, such as those for the home inspection and appraisal. Immediate Steps to Take You will likely lose your deposit