Can you walk away from new construction at closing

[EJ K.]

Wife and I are building a new home. We had to place a 3 percent deposit. Builder is financing it up front. We are securing with loan at end... 

Can we walk away if the market crashes and better deals open up? I know we will lose deposit. But can the builder come after us for more? I’m saying without cause other than value had plummeted. 

Any info is appreciated .

[Russell Brazil]

A seller, whether a builder or individual, can sue you for one of two things....either specific performance to fulfill your contract terms, or for damages for the delta between your contract price and the eventual sales price plus other associated damages.