3 days to back out
UPDATED: Oct 1, 2022
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3 days to back out
As a buyer, do I have 3 days to back out of a contract?
Asked on May 4, 2018 under Real Estate Law, Pennsylvania
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 4 years ago | Contributor
There is no right to rescind, or back out of, a contract to buy a home. There is a right to get out of the mortgage within 3 days of closing, but that doesn't let you out of the agreement to buy the house--it just means that now you have to pay for it some other way. There is also a right to get out a home renovation contract within 3 days--but again, not to get out of the obligation to buy the house or other real estate. As soon as you sign the contract, you are obligated.
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