Reply to 3 days before closing and I want to back out..can I?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I don't have any advice for the OP but I find it odd that so many people are saying OP will lose the EMD and get sued when on other threads people consistently say that it is very rare to get to keep the EMD if a buyer walks.[/quote]

If it is for financing or an inspection contingency that were not done or if the seller did something like change the applicances or something it is totally different. In this particular case the buyer has changed their mind. The seller gets to keep that money.[/quote]

Sure, because in those situations buyer wouldn't be breaching the contract so it would be stupid for the seller to try to keep the earnest money.  While I agree with you that the contract is set up so that the seller is supposed to be entitled to that money there are a bunch of threads that say the seller rarely gets to keep the money even if the buyer breaches the contract.  For example, one of the reasons that was mentioned was that to sell the house to someone else, the seller has to secure a release of the contract with the first buyer and that's difficult to do without releasing the earnest money.  Basically that it is such a PITA to sue the buyer that most sellers will just let it go and move on.[/quote]
The seller has an airtight contract with all contingencies satisfied.  OP would lose all of the money. [/quote]

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