defaulting on new home

[Aleeza Penny]

I am purchasing a new construction home. I already put down a deposit and am just waiting for it to be built. I am the only one on the mortgage loan because my husband is in the process of opening a business. Due to certain issues, I now need to be placed on my husband's business mortgage loan. I am now wanting to back out of the house. I know I will not be getting my deposit back, but are there any other charges that could come up?

 I saw in my contract there is a liquidated damages clause for 3% of the purchase price. Am I going to have to pay that?

Also, I have been preapproved for the loan, but we have not gone through with it.