re: Backing out of Purchase Agreement

I was selling a house after Katrina. The buyers were refugees. The wife liked it and they signed to purchase. They were under duress as the inventory was very limited for move-in ready houses.

Several days later, the wife called and said the husband did not want to buy. I wished them well, commiserating with their situation, and returned their deposit. (Sold the house to someone else).

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I have also had renters back out after putting down a deposit, and generally just return the money if it hasn't been too long.

I do not want to sell or rent to someone who does not want the property.