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This answer is not entirely straightforward because liability depends upon the terms of your purchase agreement. The reason the answer is not straightforward is because it depends on what was brought to light before the transaction close.   Sellers, as well as their agents have a duty to disclose any known defects that may affect…

The short answer is yes! You can be sued by the seller for backing out of a deal. If you back out of the contract for reasons that are not covered in your contract, you probably will lose your earnest money at the very least. When a dispute arises its generally in every one’s best…