All Forum Posts by: Tan Nguyen

@Tan Nguyen when you put something under contract it's not "closing", you are just getting temporarily getting married to the seller as far as you will ask for an option period, i.e. two weeks, and then a closing period, i.e. two weeks. With the way most contracts are written, a buyer can cancel at any time, but a seller can not unilaterraly decided to cancel unless the buyer has defaulted on a term of the contract. So you can cancel during your option period and get your deposit back, or you can cancel up until the date of the closing, but seller would get the deposit. Of course, we want to avoid a situation where you are wasting seller's time, so if you can't find the right buyer during the option period, you would cancel.  You should team up with someone who is experienced.