How can a buyer get out of a real estate contract during the attorney review period?

# Attorney Review Period & Contract Cancellation

During the attorney review period (typically 3-5 days in many states), either party can cancel the contract without penalty, as long as they provide written notice to the other party's attorney. This is often called the "attorney review clause" or "attorney approval period." It's designed to give both the buyer and seller time to have legal counsel examine the contract terms.

How to cancel: 1. Have your real estate attorney send written notice of cancellation to the seller's attorney 2. Keep copies for your records 3. The cancellation is usually effective immediately upon delivery of the notice 4. Your earnest money deposit should be returned without question

Important notes: - If you miss the attorney review deadline, you lose this unilateral right to cancel (unless other contract contingencies apply, like inspections or appraisals) - Some states/contracts don't have attorney review periods, so check your specific agreement - The cancellation must be in writing—a verbal request won't suffice - After this period ends, you typically need valid contingencies (inspection, financing, appraisal) to back out without losing your deposit

If you're past attorney review, you can still potentially exit the contract if: - The home fails the inspection - Financing falls through - The appraisal comes in low - Other contingencies you negotiated aren't met

The key is acting quickly and ensuring everything is documented in writing through your attorney. Real estate laws vary by state, so it's crucial to understand your specific contract terms and state regulations. If you have questions about your situation, consult with a local real estate attorney right away.