Posted by Carmen-SC on March 30, 2008 at 14:02:35:
In Reply to: Breech of contract posted by John on March 27, 2008 at 15:54:18:
Highly unlikely that it will happen. Normally, they will keep your earnest money, and put the property back on the market. People back out of transactions all the time; the banks don't want to spend the time, money or effort to "force" someone to buy a house they don't want or can't afford ... especially when 99% of the time, it's contingent on financing, and there are MANY ways that contracts can and do fall through.