Can I Cancel Escrow?

Yes, escrow can be canceled, but whether you can do so without penalty depends on your contract's contingencies and timing. Understanding your rights protects your deposit.

Canceling Within Contingencies

While your inspection, appraisal, or loan contingencies are active, a buyer can typically cancel for those reasons and recover their earnest money.

Canceling After Contingency Removal

Once you've removed contingencies, backing out without cause can put your deposit at risk, since the seller relied on your commitment.

When Sellers Want Out

Sellers have far fewer ways to cancel. Walking away without a contractual reason can expose them to legal and financial consequences.

The Cancellation Process

Cancellation is done in writing through escrow, and both parties usually must sign instructions to release the deposit.

Thinking About Canceling?

Reach out before you act. I'll help you understand your options so you make the right move and protect your money.