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Voiding a Contract

  How long after signing a contract to purchase a new house do you have to back out of the contract?
 
  AS far as I know, in most cases a contract to purchase a new house is binding with no right of rescission.  There might be some laws that apply in certain cases (sometimes with the purchase of vacant land, or timeshares) but in general the whole point of a signed contract is that it is binding on both parties immediately.
    Edith
Originally published on April 13, 2008
 
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