Can you Cancel Escrow as a Buyer? This is What You Need To Know!
#losangelesrealestate #buyahome #escrow #firsttimebuyer @JacobLiubov
Dear Homebuyer, your offer got accepted and your exciting dream of homeownership is becoming true. What if you changed your mind in the middle of the transaction (escrow)? Or you did all the necessary inspections and discovered major issues which made you change your mind about the buying a specific property? Can you cancel the transaction and get your earnest money deposit back? Today we will discuss the legal rights to cancel and back out of the deal that the buyers have.
On each transaction the buyers have contingencies which protect the buyers from buying a property that is not appealing any more. Standard contingencies are: Loan Contingency, Appraisal Contingency and Inspection Contingency. The contingencies are valid only within a certain period of time after the transaction is open. Make sure your realtor guides you through the entire buying process and explains what rights & responsibilities you as a buyer will have.
Looking to Buy or Sell a Property in California? Not sure where to start?
📧 Email: [email protected]
📞 Phone: 310.717.0795
📲 IG: / liubov_realestate
We will be happy to advise you 🤝.
👉 California Real Estate Agent Licenses:
Jacob Arutiunian - DRE 01990588
Liubov Savoskin - DRE 02015017
Our brokerage company - Compass Real Estate
Our page on Zillow: https://www.zillow.com/profile/Jacob%...