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You usually have 21 days to back out, if you do it within that time period you will be fine, if not, explain your situation and tell them u will contact an attorney if needed.

Answerin some cases though they will keep your earnest money or down payment but usually you can back out anytime before closing..and you are still stuck with the appraisal costs and other fees
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Q: What is the penalty if any for having to stop the purchase of a home only days before the closing due to the loss of a job?
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