Cost of backing out of a home purchase?

1 Reply

I am purchasing a house in a different state to be nearer to one of my kids. Then he suddenly got transferred. Is there any way to get out of the contract without losing more than my earnest money? How would it affect my credit rating if I didn't get a loan after applying for one? The due diligence period is past and they satisfied the conditions that came up.
The property is in Idaho.

99% of the time your contract will sellers sole recourse for failure on your part to purchase is to keep your earnest money. Find the relevant page and you’ll have your answer. 

I appreciate you’re not trying to weasel out of even losing that by claiming an inspection or financing failure, hopefully the seller will too.