I put a binder down on a home three days ago. Now the economy is in trouble due to the corona virus, can I get my money back and choose not to buy the house?
Not at all likely, but it will depend on the terms of your contract, the various contingencies, and whether you are prevented by virus-related conditions (not your own actions) from satisfying them. This is a question for the real estate attorney you have representing your interests here. Hope this helps. gsg
As with most things relating to real estate, the rights and obligations of the parties are set forth in the contract for purchase and sale. Consult with experienced real estate counsel to review your contract and advise on your options wihtout delay. Neither Covid-19 nor a drop in the stock market is a likely to trigger any rights under a force majeure clause, but you may have other contractual rights to cancel if you act quickly.
