What happens if I back out of a real estate purchase contract? Well, there’s a penalty if the buyer or the seller back out — and that’s earnest money.
It matters when and why you back out as to whether or not you’ll get to keep your earnest money. In a nutshell, real estate contract are serious business. If you aren’t serious, you’re going to pay a penalty!
*No earnest money was harmed in the filming of this real estate discussion.
Please contact us to tell us you love us, you want to hire us! Call or text:
Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687
Lender with Elite Team at Security Home Mortgage:
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472
A Production with Security Home Mortgage’s Jason Christiansen, and Hive Collective at Presidio’s Tyler Cazier and “Mr. Suit” Aric Wiszt.